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Average Shanghai License Plate Bid: $12,900
Fewer than 5% of bidders in Shanghai's monthly license plate auction ended up with a plate for their cars in August, the Shanghai Daily reports.
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Fewer than 5% of bidders in Shanghai's monthly license plate auction ended up with a plate for their cars in August, the Shanghai Daily reports.
The ratio of success was about the same as in July. But the average winning bid price slipped about 1% to 82,600 yuan ($12,900), according to the newspaper.
Shanghai capped the number of licenses available in August at 79,900. The city uses the auction system to help control traffic congestion.
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