BCH Vehicle Management managing director Richard Pepper says some companies are accounting for a premium of up to £300 - which could be completely wiped out if either a new half-yearly or quarterly registration plate change scheme is adopted within three years.

CAP Nationwide operations director Andrew Wilkinson said: 'Technically, BCH is right. The P-plate premium will almost disappear if the quarterly registration plate change comes in. But three years is a long time, and other factors could affect used prices more markedly than the registration letter.' The motor industry is expecting bumper August sales of close on 500,000 units.