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THE Shenzhen government is using a two-pronged strategy to slow the city's burgeoning number of drivers: purchasing restrictions and strict emission standards.
Shenzhen car dealerships and would-be drivers are feeling the squeeze of new purchasing restrictions and tougher vehicle emission standards, with nearly 30 percent of Shenzhen car dealerships shutting down in the first quarter of this year and sales of secondhand cars plummeting by 70 percent.
A report on sznews.com yesterday quoted Chen Xiangfa, head of the Shenzhen Secondhand Car Circulation Association, as saying that many car dealerships, especially smaller car dealerships, will close down in the second half of the year.
Another rule, the introduction of the National V emission standard in Pearl River Delta cities before the end of the year, and other cities in Guangdong before June 30 next year, is also a blow to sellers of used cars.
Statistics from the Guangdong Vehicle Circulation Association show that a total of 5.8 million registered vehicles meet the National IV emission standard, while a mere 80,000 vehicles in Guangdong meet the National V emission standard.
When the National V emission standard comes into force, the 5.8 million vehicles won't be able to be bought or sold in Guangdong Province.
Along with car dealerships, Shenzhen drivers are also feeling the squeeze of new regulations thanks to a license plate quota system that limits the number of new cars allowed in Shenzhen.
The average price for a new license plate stood at 13,702 yuan (US$2,240) at an action that concluded yesterday, the fourth auction this year since authorities implemented car purchase restrictions.
The lowest price at the auction was 12,000 yuan with only 58 bidders getting license plates at the lowest price, according to Shenzhen vehicle quotas administration center.
The three earlier license plate auctions had a lowest price of 10,000 yuan.
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