Shanghai license plate auction price cooled down for first time in 10 months

 Shanghai license plate auction price cooled down2

According to the Beijing Times, in response to the reported rapid growth of the Shanghai license plate auction prices, recently the Shanghai Municipal Government introduced a number of measures to suppress the license plate commercial speculation which achieved initial results. On the 20th of this month, in the Shanghai private car license auction, the price cooled down for first time in 10 months.

Ended at noon of 20th April 2013, the Shanghai private car quota auction results showed that the lowest traded price and the average price had both gone down. The minimum price for the Shanghai private car license plates was 83,900 yuan, down 6,900 yuan from last month; the average price was 84,101 yuan, down 7,797 yuan from last month.

With coming of the traditional peak season of “5.1” for the automobile market, this month the Shanghai private car market has been offered an increased quote of 11,000, an increase of 2000 over the previous month. The monthly actual number of issued license plate is 26174, the rate of successful bidding is 42%.

crazy Shanghai license plate auction price

Shanghai Transport and Port Authority official said, the license plate auction prices steadily, indicating that the recent introduction of the New Deal played a substantial role in inhibition of the license plate speculation caused by price fluctuations, generally recognized by the public. With the running of the new mechanism is mature, the price gradually stabilized or even a steady decline are likely future car buyers should insist on rational bid beat a license.

An Shanghai Transport and Port Authority official said, the license plate auction price is stable and with decrease, indicating that the recent introduction of the new policy played a substantial role in inhibition of the license plate commercial speculation caused by price fluctuations. With the maturity of the new mechanism, the price will gradually be stabilized with possible decline which are likely in the future and car buyers should insist on rational bid for a license.

Reference/Source:

http://finance.qq.com/a/20130421/000078.htm

http://www.jinghua.cn/

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