HR Owen was never likely to be a big beneficiary of the Government’s cash-for-bangers bonus — as Britain’s biggest dealer of Rolls-Royces, Lamborghinis and Bentleys, dilapidated jalopys are hardly its “thing” — and on Wednesday it confirmed that while the wider car market was being driven forward by the scrappage scheme, its sales were still in reverse.

Yesterday the company said that sales of many of its main marques had continued to fall even in September, a key month for buyers attracted by new registration plates.

“Market conditions have remained very tough and the substantial rises in financial markets have not yet been reflected in the wider economic climate in the UK,” it said.

Nicholas Lancaster, the chief executive, said: “Many of the group’s marques in the ultra-luxury sector continue to record falls compared to last year.” This contrasts with an 11 per cent rise in new September registrations in the overall market as people rushed to trade in their old bangers for new cars under the scrappage scheme.

Buyers of luxury brands are unlikely to have cars older than ten years that benefit from the subsidy. March and September, when the new registration letters are introduced, are the two biggest selling months of the year.

Mr Lancaster said that sales for most brands were down by about 40 per cent on last year “and some are down even more. There is still very little finance available for people wanting to buy the very-high-luxury cars that we deal in.”

He added that business had started to pick up very slightly in recent weeks, but it was too early to see if the improvement would be sustained.HR Owen, founded by Harold Rolfe Owen in 1932 from one showroom on Berkeley Street in London’s Mayfair in 1932, has been through hard times before and closed completely during the Second World War.

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