Bumper new registration month in August?

When the new registration date in the UK changed from August 1st to two dates (March 1st and September 1st), it turned the eight month of the year from the motor dealers 'Christmas' to a period of low registrations and consolidation for September. There were always a few customers who could be persuaded to take a new vehicle in August, but the lure of a new registration plate is too much for most to have their arms twisted.

However, there is some evidence that this trend has been reversed somewhat this year. In the first two weeks of August 2012, the Gap Insurance policies sold on new cars from Aequitas Automotive Ltd (the company that owns both the Easy Gap and GapInsurance123 brands) has recorded over double the sales that it achieved for the whole of August last year. If the trend continues that will see four times the sales of Gap Insurance for new vehicles when compared to the same month last year.

Whilst the sales of Gap Insurance policies from Aequitas cannot be taken as complete evidence in isolation, it can be used as an indication of the volume of new car sales in the UK. It stands to reason that consumers will not buy a gap policy unless they buy a new vehicle to cover.

What may be the reason for this? The Olympic spirit continued into the retail economy? Simply more people are aware of buying gap insurance online than ever before?

It is probably a combination of factors, but there are strong indications that new car showrooms have not had such a strong August since John Major was in power!