Home
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Shanghai sorting out a sustainable future
Rural tourism: Success depends on more than just green fields and a nostalgic idyll
Sunday
- Subscribe
Related News
Home » Metro » Public Services
Car plate costs continue to rise
By Jin Jin |
May 17, 2009, Sunday
|
Print Edition
Print Edition
CAR plate prices in Shanghai continued to climb this month despite the available quota hitting a new record high.
The average price for a car license rose to 29,100 yuan (US$4,254) for May, an increase of 376 yuan from the previous month, the organizer said yesterday.
The lowest successful price also rose, edging up by 200 yuan to 28,500 yuan.
A record for the year of more than 7,200 car plates were auctioned, about 700 more than last month. The monthly auction attracted 16,471 bidders, 1,183 fewer than April.
"A higher number of car plates does not always mean lower tag prices," said a Volkswagen dealer surnamed Fan. "The auction price is more related to robust auto sales that generate heated market demand."
China's vehicle sales rose 25 percent in April from a year earlier to a record high of 1.15 million units nationwide.
The sizzling sales are mainly driven by small engine capacity passenger cars that attract tax incentives.
Market recovery could also be linked to last month's Auto Shanghai 2009 exhibition, where aggressive launching of new models drew huge crowds from Shanghai and nearby cities.
"Many consumers have bought their cars and are eager to get the plates," Fan said.
The higher prices also follow Shanghai government's confirmation that the license plate auction would not be abolished before next year's World Expo.
The Shanghai Development and Reform Commission believes quota controls will be necessary to control higher urban traffic pressure due to the number of city improvement works under way.
The average price for a car license rose to 29,100 yuan (US$4,254) for May, an increase of 376 yuan from the previous month, the organizer said yesterday.
The lowest successful price also rose, edging up by 200 yuan to 28,500 yuan.
A record for the year of more than 7,200 car plates were auctioned, about 700 more than last month. The monthly auction attracted 16,471 bidders, 1,183 fewer than April.
"A higher number of car plates does not always mean lower tag prices," said a Volkswagen dealer surnamed Fan. "The auction price is more related to robust auto sales that generate heated market demand."
China's vehicle sales rose 25 percent in April from a year earlier to a record high of 1.15 million units nationwide.
The sizzling sales are mainly driven by small engine capacity passenger cars that attract tax incentives.
Market recovery could also be linked to last month's Auto Shanghai 2009 exhibition, where aggressive launching of new models drew huge crowds from Shanghai and nearby cities.
"Many consumers have bought their cars and are eager to get the plates," Fan said.
The higher prices also follow Shanghai government's confirmation that the license plate auction would not be abolished before next year's World Expo.
The Shanghai Development and Reform Commission believes quota controls will be necessary to control higher urban traffic pressure due to the number of city improvement works under way.
- 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
- |
- 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.
