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City offers fewer car plates for auction
By Tom Qian |
February 12, 2010, Friday
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Online Edition
Online Edition
SHANGHAI will auction 7,500 car license plates, 500 fewer than last month, to individuals and private companies on February 27.
Last month the license plate price in Shanghai climbed to a record high at the first auction of 2010. The average winning bid reached 38,311 yuan (US$5,609), rising 808 yuan from December. The lowest winning tender was 37,800 yuan, edging up 900 yuan from the previous month.
The price has been climbing steadily since September, when the average price was 29,500 yuan. Authorities increased the number of plates at auction to 8,000 last June, up from 5,200 in January last year.
Industry analysts said the booming auto market was the reason for the record prices.
Last month the license plate price in Shanghai climbed to a record high at the first auction of 2010. The average winning bid reached 38,311 yuan (US$5,609), rising 808 yuan from December. The lowest winning tender was 37,800 yuan, edging up 900 yuan from the previous month.
The price has been climbing steadily since September, when the average price was 29,500 yuan. Authorities increased the number of plates at auction to 8,000 last June, up from 5,200 in January last year.
Industry analysts said the booming auto market was the reason for the record prices.
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