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Car plate auction price hits 89,800 yuan in April

SHANGHAI’S car plate auction for April concluded this morning with the lowest bidding price at 89,800 yuan (US$13,012), the highest in at least one year.

The average winning price for April was 89,850 yuan, up from 87,916 a month earlier.

Up to 252,273 people signed up for the lottery-like auction of 12,196 car plates for private car owners this month. The number of bidders was 9,737 less than that in March, making the success rate stand at 4.8 percent.


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