Number Plates News

Drivers Pay More For Private Plates In Shanghai

28 October 2008

Sale prices for car registrations have risen in Shanghai, China's largest city. At auction on Sunday, 26th October, starting prices for private registrations were higher than at previous auctions due to a reduced number of plates being for sale.

According to Shanghai International Commodity Co. Ltd, the average price for a personalised plate was 31,788 CNY (£2,981.30) in September. However, just one month later, this has risen to 33,224 CNY (£3,114.31).

The increase comes as no surprise to auctioneers, as far fewer private registrations have been released by the government in October. This is due to a decrease in car sales as the global financial uncertainty steers consumers away.

However, while an increase in number plates prices was expected, some expected the increase to be steeper. According to car dealer, Ms. Feng, of Shanghai General Motors, this is a concern. She said, "The final increase (in sales) was less than expected, reflecting the overall weak market demand for plates due to slow vehicle sales."

When looking at the figures for the auction, it appears that Ms. Feng is, indeed, correct. At July 2008's auction, 16,783 bidders attended. However, this dropped to 13,451 in August and fell even further at the latest auction to 11,882.

Meanwhile, the cherished number plates market in the UK remains strong as motorists continue to purchase their ideal number plates.