D-Day for new car registrations01 September 2016
Motorpoint blogger Ken Gibson explains why he thinks the new 66 reg plate could be the first major indicator of exactly how much Brexit is affecting people’s spending
The new 66 Reg plate coming out today could be the first major indicator of exactly how much Brexit is affecting people’s spending.
The September new reg is usually the biggest sales month of the year accounting for a staggering 450,000 new car sales at a value in excess of £6 billion.
We are a nation of car lovers but in September that love affair seems to go crazy for some reason which is why if we see a fall in sales it could be a pointer to us Brits pulling in our belts after Brexit.
There has already been a slowdown in new car sales in the last quarter, but this was to be expected after almost two years of big growth. However September is still the month when every car manufacturer needs to get a big chunk of the sales action - it can be the difference between a good and a bad sales year - which is why there are so many special offers.
I’ve seen everything from £5,000 deposit contributions on big 4x4s to five years free servicing and free insurance. But it does beg the obvious question - how can the manufacturers suddenly find these great deals in September? The answer is that they still have good enough margins in the prices to offer these extra giveaways.
This is all against a background of threats from several foreign car manufacturers that they may be forced to put up UK prices in the near future because of the effect on their margins of the falling pound against the Euro.
Like always though it will be a fine balancing act because the UK market is the second biggest in Europe after Germany, for everyone from the German’s to the French, Italians, Japanese and Koreans. This means they can ill-afford to alienate British customers.
The other reality is that customers are already getting great deals on new and nearly new cars at car supermarkets, like Motorpoint, all year around. With the car supermarkets there are no gimmicks or special offers. What you get is simply get a really good deal, usually with several thousand pounds off. It's definitely worth thinking about if you're thinking of buying a car in September (or any month for that matter).
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About the author
Ken Gibson was Motoring Editor for The Sun for 23 years during which time he became one of the best known motoring newspaper journalists in the world. Over that period Ken tested thousands of cars from super minis to SUVs and super cars, and drove millions of miles all over the world.
As well as writing a blog covering the motoring issues of the day, he also independently road tests and creates video reviews on a cross section of cars sold by Motorpoint.