The DVLA has seen a significant surge in revenue from private plate sales and transfers, with earnings tripling over the past decade. According to a Freedom of Information request, the DVLA's revenue from personalised registration sales and auctions, cherished plate transfers, and assignment fees has increased from £100.2 million in 2012-13 to £260.1 million in 2022-23.
Steve Gooding, director of the RAC Foundation, commented: "In a world where it can be difficult to stand out from the crowd it's easy to understand why some people are attracted to personalised number plates – call them cherished plates, vanity plates, or just a bit of fun."He added: "Whether it's a pet name for the car or your own initials there's plenty to choose from.