Related News
Prices down in 2009's first license plate sale
By Jin Jing |
January 12, 2009, Monday
|
Print Edition
Print Edition
PRICES for private car plates in Shanghai fell below 30,000 yuan (US$4,388) in the first auction this year.
Dealers said the large quota of plates on offer prevented the price from soaring but the number of bidders remained high as demand thrived with vehicle sales recovering.
The average price for a car plate fell to 29,399 yuan this month, compared to 31,665 yuan in December's auction, said the organizer, the Shanghai International Commodity Auction Co, over the weekend. The lowest successful bid also slid 2,400 yuan to 28,600 yuan.
The city government offered 5,200 car plates at the auction this month, 700 more than last month, hoping to meet higher demand during the prime vehicle-sales season, which occurs around upcoming Chinese New Year.
A total of 16,544 car owners took part in the auction, 357 fewer than last month.
The city's vehicle market has showed some signs of recovery over the past month and falling fuel prices and promotions by car dealers have persuaded buyers to place new orders.
More than 11,000 car owners who lost out last month came back for this month's auction, eager to drive their cars during the Spring Festival, which falls on January 26 this year.
Industry observers said prices of private car plates were still heavily affected by the amount of plates offered. The municipal government has been controlling the number of vehicles to manage traffic congestion and help the environment. But the number of plates offered has climbed year after year to meet the demand.
The city issued 84,500 plates last year, an increase of 7,500 from 2007. The average price declined by 4,593 yuan to 32,379 yuan in 2008 from a year earlier.
Dealers said the large quota of plates on offer prevented the price from soaring but the number of bidders remained high as demand thrived with vehicle sales recovering.
The average price for a car plate fell to 29,399 yuan this month, compared to 31,665 yuan in December's auction, said the organizer, the Shanghai International Commodity Auction Co, over the weekend. The lowest successful bid also slid 2,400 yuan to 28,600 yuan.
The city government offered 5,200 car plates at the auction this month, 700 more than last month, hoping to meet higher demand during the prime vehicle-sales season, which occurs around upcoming Chinese New Year.
A total of 16,544 car owners took part in the auction, 357 fewer than last month.
The city's vehicle market has showed some signs of recovery over the past month and falling fuel prices and promotions by car dealers have persuaded buyers to place new orders.
More than 11,000 car owners who lost out last month came back for this month's auction, eager to drive their cars during the Spring Festival, which falls on January 26 this year.
Industry observers said prices of private car plates were still heavily affected by the amount of plates offered. The municipal government has been controlling the number of vehicles to manage traffic congestion and help the environment. But the number of plates offered has climbed year after year to meet the demand.
The city issued 84,500 plates last year, an increase of 7,500 from 2007. The average price declined by 4,593 yuan to 32,379 yuan in 2008 from a year earlier.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
