Posh plate sales steady as new car demand slumps

The most expensive plate at a UK auction: DVLA sold 1D for £352k in March
The most expensive plate at a UK auction: DVLA sold 1D for £352k in March

Number plate retailers could be benefiting from the slump in new car sales, according to Swiftcover.com.

Research by the online insurance company backs up the theory that motorists are spending money making over their existing vehicles rather than buying new ones.

While the number of new cars sales is down by about a fifth so far this year, just 4% fewer personalised number plates have been sold.

However, the price drivers are willing to pay for their plates has fallen significantly.

The average online price has dropped by 8%, while the average auction price has crashed by 17%.

But figures collated by Swiftcover.com suggest that it is still a lucrative market:

  • 236k personalised number plates were bought in 2008/09 worth a combined £80.6m
  • The average online selling price was £350
  • The average price at auction was £2500

Tina Shortle, marketing director, said: “Splashing out on a flash number helps to lift the gloom a bit and make motoring more fun.”

Published by emmabutcher

Emma has been CAT's editor since January 2008. There isn't much she doesn't know about the aftermarket - and her favourite topic is definitely BER!

TRIBUTES PAID TO RICHARD PARRY-JONES

Marshall Motor Group Chairman has died following an accident

Read More

PRA FIGHTS AGAINST RETAIL VIOLENCE

Initiative launched to prevent aggressive behaviour towards retail employees

Read More

AUTOINFORM EVENT RE-SCHEDULED TO NOVEMBER

Organisers confident that training event will finally take place late in 2021

Read More

EAG UPGRADES WAREHOUSE MANAGEMENT

Leeds-based firm install MAM warehouse management system

Read More

SEMI-AUTOMATED BATTERY ASSEMBLY LINE ESTABLISHED

Comau UK chosen to implement highly automated production

Read More

Go to comments

Your email address will not be published. Required fields are marked *