There was a time when you would rarely see a personalised number plate on Britain\u2019s roads. When you did see one, it would often be on an ultra-expensive car in an exclusive location. Now, personalised registrations are everywhere.<\/p>\n\n\n\n
Some sell for huge\namounts of money, including those that have price tags counted in the hundreds\nof thousands of pounds. However, the majority of the personalised registrations\nyou see on your commute to work or during your weekend drives were probably\nbought for a lot less \u2013 hundreds of pounds instead of thousands.<\/p>\n\n\n\n
Before exploring some of\nthe reasons why personalised number plates are so popular, let\u2019s first look at\nthe sales numbers to get an understanding of just how significant the growth\nrate really is.<\/p>\n\n\n\n
Annual Sales of Personalised Number Plates<\/strong><\/p>\n\n\n\n Over recent years, the\ngrowth in popularity of personalised number plates has been consistent. When\nyou look at the figures, that\u2019s not even the most interesting part. The more\ninteresting element is how much more popular they have become.<\/p>\n\n\n\n For example, the amount\nof money raised by the DVLA through the sale of personalised number plates more\nthan doubled over three years, reaching over \u00a3162 million in the 2017\/18\nfinancial year.<\/p>\n\n\n\n This only accounts for\nsales by the DVLA, which only sells new personalised number plates (those that\nhave never been issued before). There are sales of personalised number plates on\nthe private market to add to the figures reported by the DVLA. While we don\u2019t\nknow the exact figure this amounts to, the total sales in 2017\/18 of\npersonalised registrations was considerably more than \u00a3162 million.<\/p>\n\n\n\n What about growth rate? To\nsee the rate of growth of personalised registrations, you only have to look at\nthe DVLA\u2019s figures:<\/p>\n\n\n\n So, not only are sales of\npersonalised number plates higher than they have ever been, but the rate of\ngrowth is high too \u2013 47 percent in 2017\/18 compared to 21 percent in 2015\/16.<\/p>\n\n\n\n Why Personalised Number Plates Are So Popular<\/strong><\/p>\n\n\n\n So, why are personalised\nnumber plates so popular? What are the reasons for car owners deciding to buy a\npersonalised number plate? Why is the rate of sales growth increasing? Here are\nsome of the answers.<\/p>\n\n\n\n Buying a Personalised Number Plate is an Investment<\/strong><\/p>\n\n\n\n One of the main\nmotivations for people to buy a personalised number plate is to get something\nunique. The value of many personalised number plates increases over time.<\/p>\n\n\n\n This leads to many people\nviewing the purchase of a personalised number plate as being an investment\nsimilar to investing in a watch or a case of wine. In addition, depending on\nthe registration, that investment could last a lifetime.<\/p>\n\n\n\n The DVLA started selling\npersonalised registrations in the late 1980s, with many private dealers at the\ntime fearing the increase in registrations available on the market would lead\nto a general devaluing of all registrations. The opposite has happened, with\nthe prices of personalised number plates increasing steadily over time.<\/p>\n\n\n\n Personalised Registrations Are Not Just for the Super Rich<\/strong><\/p>\n\n\n\n Another reason that\npersonalised number plates are increasingly popular is they are not just for\nrich people to put on very expensive cars. The reality is there are excellent\nregistrations available for a couple of hundred pounds.<\/p>\n\n\n\n Of course, there are some\nthat sell for thousands of pounds, but according to the DVLA, 90 percent of the\npersonalised number plates available on its website are for sale for less than\n\u00a31,000.<\/p>\n\n\n\n More Personalised Number Plates on the Road Leads to More Personalised\nNumber Plates Being Sold<\/strong><\/p>\n\n\n\n The market for\npersonalised number plates feeds itself. <\/p>\n\n\n\n There is unlikely to ever\nbe a time when the number of personalised registrations comes close to the\nnumber of standard registrations on the road. This maintains the exclusivity of\nowning a personalised plate.<\/p>\n\n\n\n That said, the more that\nare available, the more that sell. This is probably because we now see\npersonalised registrations more often when out and about on the road, reminding\nus how good they look and making us want one even more.<\/p>\n\n\n\n Personalised Registration Are an Innovative Marketing Tool<\/strong><\/p>\n\n\n\n There is also a niche use\nfor personalised registrations that is contributing to their growth in\npopularity. Over recent years, we have seen an increase in businesses investing\nin personalised number plates to use on their vehicles. These registrations\noften carry the name of the business or another marketing message.<\/p>\n\n\n\n This makes personalised\nnumber plates a very cost effective yet eye catching advertising and marketing\ntool.<\/p>\n\n\n\n What the Future Holds<\/strong><\/p>\n\n\n\n There is no indication\nanywhere in the market that there is a slow down in the popularity of\npersonalised plates. The most exclusive options continue to sell for\nsignificant sums of money. In addition, the DVLA and private sellers continue\nto report strong growth in sales, and we see personalised registrations more\nand more on Britain\u2019s roads.<\/p>\n\n\n\n The fact is, our\nattractions to cars in the UK goes deeper than simply having a mode of\ntransport to get us from point A to B. Instead, the car we have in the driveway\nis an extension of our personality, and we care about how it looks.<\/p>\n\n\n\n For those who invest in a\npersonalised number plate, getting a unique and meaningful registration is an\nessential finishing touch.<\/p>\n","protected":false},"excerpt":{"rendered":" There was a time when you would rarely see a personalised number plate on Britain\u2019s roads. When you did see one, it would often be on an ultra-expensive car in an exclusive location. Now, personalised registrations are everywhere. Some sell<\/p>\n
\nThe situation is similar for private sellers even though they often offer more\nexclusive registrations. In other words, you don\u2019t need to be super rich to\nhave a personalised number plate, wherever you make the purchase from. This\nmakes them accessible to more people.<\/p>\n\n\n\n