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December 6, 2013

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Ceiling of car plate auction unchanged

The price ceiling mechanism will remain in force at the last car plate auction in the city this year to ensure price stability in the high sales season.

The auction next Saturday will make 8,500 car plates available for sales, the same as last month, but 500 less than the usual amount. Just like last month, an upward limit of 74,900 yuan (US$12,294) — the weighted average of average prices in September, August and July — will be imposed on the first-round of bids, which are often used as a gauge for second-round bids by participants.



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