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Car plate bid success rate picks up, average winning price drops
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THE success rate of bidding at the Shanghai car plate auction this month rises to 6.1 percent as the number of bidders dropped to 121,550, nearly 15,000 less than July, the Shanghai International Commodity Auction Co said today.
The car plate supply was kept at the same level, 7,400 for private participants, as pre-set by the municipal government out of a quota of 100,000 for the whole year.
The average winning price for a Shanghai car plate this month was 73,785 yuan (US$12,005) , down 895 yuan from last month. The lowest bid dropped 1,000 yuan to 73,600 yuan.
The first-round bids were kept under the price ceiling, which will be kept at 72,600 throughout the year.
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