Shanghai Daily news

The municipal government will put 5,000 car licenses under the hammer this month. The monthly auction will be held on October 25. The quota is the smallest so far this year as the slumping stock market and high fuel prices have weakened market demand for vehicles.

The lowest and average prices for a car plate in Shanghai dropped to 29,300 yuan (USS$4,289) and 31,788 yuan respectively for last month. Car owners can file their applications at six locations, including at 108 Fuzhou Road.