Maybe this is why plates are expensive.... I did not know about the security feature before...

Security Feature

All plates are made containing a silver fern security feature in the sheeting. The silver fern is created during the
manufacture of the reflective sheeting. This unique image is for New Zealand (other countries have their own
image). The image can be seen if you turn the plate to a 15–30 degree angle. This feature is to assist the
identification of an authentic plate from a fake.
Only plates issued by Waka Kotahi NZ Transport Agency and its agents are legal. Plates purchased anywhere else
are unacceptable. 

Number plates | Waka Kotahi NZ Transport Agency (nzta.govt.nz)

Inphinity:

 

Sure, but its $599 for a fixed format plate, versus $999 for a flex format. The process for both is fundamentally the same - perhaps marginally more moderation for flexi, but not $400 worth.

 

What's your point? They have to pay the salary of those people providing customer support, moderation, sales, accounting, etc, whether they sell one plate in a year or four hundred. Be cynical all you want, they have outgoings too and the profit margins are very unlikely to be anywhere near what you think - otherwise the former Personalised Plates mob would have fought tooth and nail to keep the rights. 

Kyanar:

 

Because replacing a plate just involves sending an order to Licensys to press it. Actually issuing one involves updating the registration database with the new plate for the car, sending the order to Licensys for production, a contribution to the road safety fund, a margin for the operator of the service, a moderator to ensure it's not a "clever combo" that would be objectionable, customer support, handling of the returned government issue plates, payment processing (Visa/Mastercard/Amex) commissions, etc.

 

Good guess, but it's actually not that. A large portion goes back to NZTA to "promote road safety". The information surrounding this arrangement is largely publicly available.

If you don't have a specific plate in mind, browse the plates for sale on TM, there's some bargains, and some people dreaming!

I have a personalised plate, bought back when they first came out and only cost $200 or so, and it has extra lettering added for a phone number and URL of a business that I used to run. I've since closed that business and inquired about getting the plates reissued without the extra lettering. I expected to pay the reissue fee, which at the time was about $40 I think, but was told that they couldn't do that, I'd have to pay the full price of a new plate. Bugger that! So I've kept the plates as is.

MurrayM:

 

I have a personalised plate, bought back when they first came out and only cost $200 or so, and it has extra lettering added for a phone number and URL of a business that I used to run. I've since closed that business and inquired about getting the plates reissued without the extra lettering. I expected to pay the reissue fee, which at the time was about $40 I think, but was told that they couldn't do that, I'd have to pay the full price of a new plate. Bugger that! So I've kept the plates as is.

 

You can do a restyle via Kiwiplates, looks like it costs $149.00. I've been tempted to change / remove the wording above my plate, but have never gotten around to it.

boosacnoodle:

 

Good guess, but it's actually not that. A large portion goes back to NZTA to "promote road safety". The information surrounding this arrangement is largely publicly available.

 

No, it actually is that. I specifically called out the contribution to the road safety fund.

evilonenz:

 

You can do a restyle via Kiwiplates, looks like it costs $149.00. I've been tempted to change / remove the wording above my plate, but have never gotten around to it.

 

Hmm, I think a small pot of paint would be a lot cheaper to remove the lettering I don't want any more.

Kyanar:

 

What's your point? They have to pay the salary of those people providing customer support, moderation, sales, accounting, etc, whether they sell one plate in a year or four hundred. Be cynical all you want, they have outgoings too and the profit margins are very unlikely to be anywhere near what you think - otherwise the former Personalised Plates mob would have fought tooth and nail to keep the rights. 

 

I'm not arguing over the price, I've happily paid the list price for multiple plates. My point was, the various things you listed:

 

Actually issuing one involves updating the registration database with the new plate for the car, sending the order to Licensys for production, a contribution to the road safety fund, a margin for the operator of the service, a moderator to ensure it's not a "clever combo" that would be objectionable, customer support, handling of the returned government issue plates, payment processing (Visa/Mastercard/Amex) commissions, etc.

 

are largely the same regardless of whether the plate is a fixed or flexi combo, yet there is a big price discrepancy between the two. To be honest, I'm surprised at the discrepancy being as large as it is, exactly because of all the various steps and costs involved. I can't find any detail on whether the NZTA road safety fund contribution is lesser from the fixed format plates, though.