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Car plate auction price exceeds 90,000 yuan

SHANGHAI'S car plate auction for May concluded this morning with 270,197 people signing up for the auction of 10,316 car plates, making the success rate standing at 3.8 percent.

The average winning price for May was 90,209 yuan (US$13,106), up from 89,850 a month earlier. 

This is the first time that the average winning price has exceeded 90,000 yuan this year. 

The lowest bidding price of the car plate is 90,100 yuan this month, up from 89,800 yuan last month.

Up to 252,273 people bid in last month's Shanghai auction for car plates and 4.8 percent of participants emerged victorious. The success rate of 3.8 percent this month is 1 percent lower compared with the rate of last month.


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