State car auction gets warm reactions
19/1/2004 15:47
Auction for state-owned cars is waging a hot wave in Shanghai, as more
than 300 such vehicles have applied for auction in the past month at Shanghai
Automobile Auction Center, officials with the center said.
The volume
accounts for more than half of the city's total vehicles on auction during the
period with more than 90 percent of the state vehicles succeeding in the sale,
today's Shanghai Morning Post said.
State car auction is part of the
country's economic reform with state-own enterprises, organizations,
institutions and governments to ease the economic burdens for car purchases and
maintenances.
Most of the cars on auction are Santana and Passat after some
five years in use, according to auction officials.
The most popular model is
Santana 2000, which usually starts from a little more than 60,000 yuan
(US$7,255) and close at some 100,000 yuan.
Officials expect a warmer market
ahead after the Spring Festival, a holiday that concludes on January 29 this
year, noting that a growing number of enterprises and institutions are
contacting them for car auction.
Jane Chen / Shanghai Daily news
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