This year's Shanghai car price is expected to stabilize January 17 bid

This year, the Shanghai license plate price is expected to remain stable. According to information obtained from relevant authorities, the first private car bidding session of the year will be held on January 17, earlier than usual due to the proximity of the Spring Festival holiday. Traditionally, the bidding process would take place after the holiday, but this year’s schedule has been adjusted accordingly. Reports suggest that because the bidding date and the holiday are so close, even if a bid is successful, the license plate may not be issued until after the festival. As a result, there may not be a large-scale centralized bidding event this time. The sharp increase in last year’s winning prices is expected to return to more normal levels. Last year was a record-breaking year for private car license plates in Shanghai. The monthly number of licenses sold increased from around 3,000 to over 6,000, while the minimum bid price rose from 18,800 yuan in January to as high as 38,500 yuan in August—a difference of nearly 20,000 yuan. This dramatic rise clearly reflected strong demand for private vehicles. However, it was later revealed that the surge in license plate prices was largely driven by dealer speculation. In January and August last year, the number of bidders was roughly 9,000, yet the price differences were significant. Some dealers exaggerated prices to push sales, often at the expense of consumer interests. Looking at the price trends from last year, the lowest bid price dropped by as much as 10,000 yuan after August, falling from 38,500 yuan to 28,800 yuan. According to an official from Shanghai National Film Co., Ltd., this decline was the result of technical measures taken to curb dealer-driven hype. Since the second half of last year, Shanghai authorities have implemented one-to-one bidding for citizens, along with restrictions on single-computer bids. These measures significantly limited unfair practices by dealers who previously manipulated auction results. After these rules were introduced, bid prices dropped sharply and remained relatively stable. Although there was a slight rebound in December, the auction house attributed this to a typical year-end fluctuation and not a sign of rising prices. Citizens can now bid without having to inflate their psychological expectations. For this year’s bidding, it is reported that no new license plates will be released immediately due to existing restrictions like road usage limits. In the near future, bidding will still be the primary method for obtaining private car licenses, and it will continue to help manage the total number of vehicles in the city alongside the transition of Mobibus. At the same time, the demand for private cars in Shanghai remains robust. Many new models expected to be launched by car dealers this year are targeted at the family market. Given the current supply and demand dynamics, there will likely be no drastic drop in license plate prices. Moreover, the government and auction houses will maintain strict controls on dealer participation in the bidding process. The public’s psychological ceiling has already been reached over the past year. Therefore, the overall price of license plates is expected to remain stable this year, with minimal fluctuations.

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