Car plate price exceeds 93,000 yuan this month

Shanghai's car plate auction for October concluded this morning, with 244,868 people signing up for the auction of 11,388 car plates, making success rate standing at 4.65 percent.

The average winning price for a car plate stood at 93,540 yuan (US$14,133) this month, up 2,125 yuan compared with 91,415 yuan last month. This is also the first time that average price exceeds 93,000 yuan since January this year.

The lowest bidding price for October was 93,500 yuan, up 2200 yuan from 91,300 a month earlier.

The success rate of 4.65 percent this month is 0.35 percent higher compared with the rate of last month. Up to 250,566 people bid in last month's Shanghai auction for car plates and 5 percent of participants emerged victorious.