12-Plate Registration Not Proving Enticing To Luxury Car Buyers

The release of a new UK registration plate used to be a momentous occasion. Based on information from Bridford, a UK car finance company, this no longer seems to be the case. Anticipation prior to 12-plate registration has not been as high as expected. Luxury car buyers seem disinterested, preferring to drive the latest vehicle models as soon as they hit the showroom floor.

Tim Marlow, owner of Bridford, commented that the demand and excitement surrounding a new registration plate has subsided in recent years. The number of flexible and attractively priced car finance packages may be to blame. Mr. Marlow reported that since car loans and other financing options have made it easier to change vehicles more regularly, car buyers want to drive a new model as soon as it is released.

In general, interest in the latest plates has waned since the process of two new registrations per year was introduced, reported Mr. Marlow. Car buyers prefer not to wait until March 1 to drive a vehicle that becomes available in January. Now, drivers look forward to international auto shows because these reveal when the newest models will become available.

In the past, Bridford customers used to change vehicles each year to have the prestige of driving an automobile each August featuring the most recent registration plate. Since a new registration is now available every six months, having the latest plate is no longer as important. The exclusivity that the plate once conveyed is no longer there.

Instead, drivers now circle the dates of the Beijing, Frankfurt, and Geneva auto shows. These events reveal release dates of the latest cars, allowing buyers to place orders and secure car finance. Mr. Marlow reported a surge in activity last fall following the Frankfurt show. He anticipates that business will increase again after the Geneva show later this month.