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Success rate at license plate sale falls to 5.58%
Online Edition
SHANGHAI'S monthly car plate auction saw its second-lowest success bidding rate today as the number of participants surged to its second-high level on concerns over the upcoming stricter travel restrictions on non-local cars.
7,406 car plates were up for grab this month, 247 less than last month, among individual buyers, whose number shot up 28.5 percent from February to 132,690. That dragged the success rate down to 5.58 percent from 7.4 percent.
The passion for participation was fueled up by a recent official announcement that out-of-town car plates will be subject to more travel restriction areas in Shanghai under extended hours. The details are yet to be disclosed.
The average price of a Shanghai car plate dropped 1,788 yuan from last month to 74,830 yuan while the lowest winning one 74,600 yuan, down 1,900 yuan.
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