March 2017 Huge Increase In Car Number Registrations
According to the car industry trade body, March has been the best month to date for UK car registrations.
The Society of Motor Manufacturers and Traders (SMMT) said there was a total of 562,337 new cars registered in March, this is up by 8.4 per cent on the same month last year.
These figures were boosted by the change in the number plate in March, as well as the changes to the Vehicle Excise Duty (VED).
Many customers would have benefitted by buying a car before 1 April, changes in the way cars are taxed came into effect on this date.
Anyone looking to buy a low-emission car would have had an incentive to buy before the 1 April.
Mike Hawes, SMMT chief executive, said: “These record figures are undoubtedly boosted by consumers reacting to new VED changes, pulling forward purchases into March, especially those ultra-low emission vehicles that will no longer benefit from a zero-rate fee,”
The UK in particular has a relationship with personalised number plates. According to estimates by the DVLA (Driver and Vehicle Licensing Agency), the UK reported an excess of two billion pounds in tax revenue from tax auctions over the past 25 years. As they are keen to state, an expression of interest in a particular plate by three people or more is enough to push the price of that Reg plate through the roof. It has also been documented that the buyers let their hearts take control of their heads when they bid for these plates.
Personalised number plate auctions are constantly rewriting the record books with regard to the highest price paid for a plate. The record currently stands at £518,000 which is quite impressive. The prices of these Regplates does not seem to be slowing down either.
Of particular interest is the recent auction of the highly-hyped 250 C Reg plate which sold for £21,500. This is a clear indication that the expectations for the prices of personalised number plates will continue to increase.
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