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Beijing, the capital city of People Republic of China, its auto sales, which account for about a tenth of the national tally, are surging recently after the end of Olympic traffic controls and because of rumors about new caps on vehicle numbers, according to the head of China's largest auto market.
Auto sales in Beijing have risen 30 percent in October. "We don't know how the rumor started or whether it's true, but it's certainly working in terms of boosting sales," a Beijing auto agent said. Beijing's local government is discussing plans to limit new vehicle registrations to 100,000 a year now, about a third of the city's average annual vehicle sales. The new license plates would be sold through auctions, the report added. Shanghai, the only major Chinese city with vehicle- ownership limits, started plate auctions in 1994.
Still, even though auto sales have recovered in Beijing, prices continue to fall as automakers work to clear backlogs. |
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