In the seventh consecutive month of record high prices, the cost of a Shanghai car license plate had a record winning bid of 75,000 yuan, which is the price of an economy family car in the country.
The percentage of motorists with successful bids fell from 51 percent in December to 43 percent in January as 20,857 people bid for only 9,000 car number plates. It was the lowest number in nine months.
According to Shanghai Commodity International Auction Co, in January the average number plate's price was 75,332 yuan, almost 6,000 yuan higher than last month.
"Thanks to the new regulations, now customers have peace of mind after getting the number plate - there's a concern that you might be fined if there's no plate on your new car," said Zhou Wenchao, a salesman at a Shanghai car dealership.
