Auction of 9,000 car plates tests market demand

Gasgoo From Shanghai Daily

A total of 9,000 car plates will be auctioned next Saturday, the same amount as last month and the second largest quota this year.

The average price for a car plate this month is expected to stay at 40,000 yuan ($5,833.71), almost the same as last month.

The average price last month was 39,362 yuan, down by 1,018 yuan from June although the number of bidders fell to 13,389, a drop of 2,863 people from June.

The auto market entered a traditional slow season as the demand for private car licences kept shrinking in summer.

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