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City car plate prices down for 2nd month

Shanghai car plate prices declined for the second consecutive month at this morning's auction after city's cooling down measures took effect again.

The average successful bid for a Shanghai car plate dropped to 80,803 yuan today, down 3,298 yuan from last month, according to Shanghai International Commodity Auction Co. The lowest successful bid fell 3,298 yuan to 80,700 yuan.

That means a more-than-10,000-yuan nosedive from two months ago, when the lowest bid peaked at 90,800 yuan.

It is also the second time the city government set a price ceiling of 79,900 yuan at today's auction, meaning bids higher than the price were meant to be rejected by the online auction system in the first round.


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