Prestige car finance provider Bridford has
predicted headline launches at the Paris Motor Show this week will
stimulate sales of September’s 62 registration plate.
While UK dealerships surveyed by Motor Finance were,
in the majority, positive about sales at the start of the month,
Bridford has claimed the September plate change has not been all
that could be expected.
Go deeper with GlobalData
Sales throughout 2012 have surpassed expectations and,
typically, September is the second busiest month of the year for
new registrations
behind March as consumers look to buy the new number plate.
According to dealers asked in late August only
55% expected to do a better trade on plate change day than in 2011.
After 1 September, however, 80% said the day had been positive,
with an average finance penetration of 67%, roughly in line with
the Finance & Leasing Association 12-month average.
Luxury allocation
Bridford cleared in excess of £800,000 in
finance on prestige brands, such as McLaren and Lamborghini,
following uplift from the
Frankfurt Motor Show last year. This year, however, company
owner Tim Marlow said: “Sales of 62-plate vehicles has been slower
than normal from our perspective during the first few weeks of its
release but we attribute this to customers waiting to see the new
vehicles being revealed at the Paris Motor Show.”
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By GlobalDataParticularly, Marlow was confident in the
initial interest in the
latest model of Range Rover, the L405, unveiled at Paris.
“One franchised Land Rover dealer we work very
closely with received 65 initial enquiries immediately after it was
officially revealed and has subsequently taken 50 deposits, which
takes up its full 2013 allocation,” Marlow said.
Further comments, data and analysis from
UK dealers regarding the September plate change will be published
in
the September issue of
Motor Finance
magazine.
richard.brown@vrlfinancialnews.com
