Flying license plate price curbs used car sales
8/7/2003 15:30
The soaring car license plate prices have dragged down the second-hand
car sales in Shanghai, the Shanghai Evening Post reported today.
The
second-hand car auction has gained popularity since last year, with the trading
volumes hit 60 percent at the beginning of this year, according to
statistics.
However, the prices of private car license plates in Shanghai
soared to more than 30,000 yuan (US$3,614) since April this year, with those for
second-hand cars rising to nearly the same level as new ones, the statistics
indicated.
Used car sales, without price advantages, reported only 30 percent
of trading volumes.
A Santana car, produced in the year 1994, is currently
sold at 70,000 yuan in the second-hand car market, among which 35,000 yuan is
for license plate, said an industry analyst.
So most consumers are opting to
purchase new cars, the analyst said.
The used cars without license plates are
still cheaper, mainly sold to other cities and provinces. Many taxi companies
outside the city came to Shanghai to buy second-hand taxis, he said.
The
trading volumes of second-hand cars without license plates are expected to soar
in the near future, he added.
Wendy Zhang/ Shanghai Daily news
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