License plate quota crashes

2008-12-11  |     NEWSPAPER EDITION

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THIS month's quota for vehicle license plates is 4,500, the lowest number for the year, the Shanghai International Commodity Auction Co Ltd said.

The quota is 1,000 less than last month. The auction will take place on December 20. Among the 4,500 plates, 25 are for motorcycles and 238 are reserved for businesses changing motorcycle plates to car plates. The average price for a car plate in November dropped 8,873 yuan (US$1,292) to 24,351 yuan from a month earlier. The lowest winning bid sank to 21,800 yuan. Both the average and lowest bid prices dropped to the lowest level since March. There were 10,170 bidders last month, a sharp drop from the record high of 63,534 in March.


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