Bragging rights play a factor in 24% of new registration vehicle purchases

  • Almost two thirds (63%) of drivers wait for the new registration before upgrading their car
  • 29% of drivers say that having two annual registration releases encourages them to buy a new car

 

As September 1st 2016 saw the latest tranche of new vehicles hitting the showroom, research by OSV, the UK’s leading independent vehicle supply professionals, reveals that the registration releases play a significant role in encouraging drivers to upgrade their car, with 29% saying the new licence plate is a major influence.

It seems that almost two thirds (63%) of drivers specifically wait for the new registration before upgrading to a new car, with 17% of motorists being tempted to splash the cash simply to get their hands on the new number plate.

However, while temptation is a key driver of new registration vehicle purchases, bragging rights can’t be overlooked as a influencer. One in four (24%) motorists admitted that they had opted for a new registration vehicle to impress their peers; while one in ten (9%) did it to wow their colleagues, for 15% it was a matter of getting one up on their neighbours. Perhaps most interestingly, this is a phenomenon most commonly noted in the second half of the year, with more people likely to upgrade in September than in March.

The survey also showed that there is even new reg interest amongst those drivers not in the market for a new car, with 11% saying that they get excited simply to spot the first new registration vehicle on the road.

OSV joint-company Director, Andrew Kirkley, comments: ‘In the light of post-Brexit uncertainty, it’s great to see that there is still so much interest and excitement generated by the release of new registration vehicles.

‘This is always a really busy time for us, as new number plate trophy-hunters and last season bargain-hunters visit the showroom. We were slightly nervous about what impact the current economic climate would have on sales, but it seems that the new models are proving just too much of a temptation!’

Notes to editors:

OSV are the UK’s best independent vehicle supply professionals, providing every funding method imaginable. Trading since 1997, they have the experience to provide our customers with the highest level of service and are proud to be members of the British Vehicle Rental and Leasing Association.

Customers can visit the OSV website – https://www.osv.ltd.uk/  – or call 01903 538835 for help finding the right car and the right financial package to suit their needs.

 

Do you get excited to spot the first new registration vehicle on the road?
Yes11%
No89%
Do you wait for the new registration before upgrading your car?
Yes63%
No30%
N/A7%
Would you say that the two annual registration releases are a major influence for you when buying a new car?
Yes29%
No67%
N/A4%
Are you more likely to upgrade your car for a new registration in March or September?
March34%
September57%
N/A9%
Which of the following factors motivate you most when purchasing a new registration vehicle?
Impressing peers24%
The new number plate17%
Wow colleagues9%
Getting one up on neighbours15%
N/A35%

Aylish Jarvie

PR at VoxPops PR
Having worked for years in PR helping grow a leading UK technology company, Aylish decided to branch out and help businesses access the exposure they need to reach new heights. With several years experience in managing and delivering PR strategies across sectors ranging from auto industry to food & drink to healthcare, Aylish loves to explore the different ways both traditional and online media can help startups gain traction as well their role in longer term brand building.
Aylish Jarvie
  • 4th October 2016

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