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Success rate remains low in city car plate auction
Online Edition
SHANGHAI'S monthly car plate auction was a cut-throat competition until the very last seconds in August as the success rate remained low, at 4.5 percent, the same as July.
Up to 166,939 individual buyers participated in the bidding session held this morning, fighting for 7,454 car plates, both with no significant change from last month.
The average winning price dropped to 82,642 yuan, by 529 yuan from July while the lowest winning bid cut 500 yuan to 82,600 yuan.
The price fluctuation flattened this month after July saw a more than 3,000 yuan price increase after the price ceiling for first-round bid was moved up by 4,700 yuan.
The upward limit was again set at 79,900 today, acting as a price trend indicator based in the average of monthly average winning prices from the last quarter.
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