Car plate prices climb

By Ding Yining | June 21, 2009, Sunday |

Print Edition

CAR plate prices in Shanghai continued to climb this month even though the monthly quota was the highest this year.

The average price for a car licence plate rose to 30,363 yuan (US$4,446), up 1,263 yuan from May, the bid's organizer said yesterday.

The lowest successful price also rose to 30,000 yuan, up 1,500 yuan from last month.

A total of 8,000 car plates were auctioned yesterday, the most this year and 800 more than last month. There were 17,433 bidders, 6 percent more than last month.

In May, 1.12 million vehicles were sold in China, 34 percent more than the same period last year. A total of 829,100 passenger cars were sold in the period, a 46.8 percent jump from the year earlier.

The Shanghai Development and Reform Commission has said it will not cancel plate auctions before World Expo 2010, but is considering providing discounts on plates for small-engine vehicles. Vice Mayor Tang Dengjie has said the number of car plates issued this year may rise 35 percent.

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Car plate prices climb

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