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Changes to car plate auction hits supplies
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BRINGING secondhand car plates into the city auction will mean fewer plates available for motorists to buy.
Under a new system to be introduced next month, secondhand plates that were previously privately traded are being incorporated into the auction for new plates,
However, the monthly quota of plates up for auction will not change and the number of new plates will be reduced according to the number of secondhand plates added to the pool, the Shanghai Transport Commission said yesterday.
Officials said this would help reduce the numbers of vehicles on city roads.
“We will stick to the quota limitation policy made earlier as there are already too many vehicles on Shanghai roads,” said commission spokesman Huang Xiaoyong.
Recently, some 7,400 to 8,300 new plates have been up for auction each month.
Registration for auctioning secondhand plates starts next month and the first auction of new and secondhand plates will be in December.
Sellers, who receive the average price, cannot buy a plate for three years afterward.
The commission is cracking down on agents and individuals making profits through reselling car plates.
While the average price of a plate at auction this month was 74,075 yuan (US$12,108), secondhand ones sold privately for 100,000 yuan.
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