Car plate prices rose at auction in Shanghai yesterday despite the slump in auto sales, as a reduced number of plates for sale and the release of customized licenses stimulated market demand.

The average price for a car plate rose to 33,224 yuan, up from 31,788 yuan in September, according to auction organizer, Shanghai International Commodity Co Ltd.

The lowest price rose 3,300 yuan to 32,600 yuan in October compared to the previous month.

The price increase was widely anticipated before auction as the government only put 5,000 car plates up for sale, the smallest quota for the year.

From October, auto buyers have been able to select both English letters and numbers to customize their car plate numbers, thus reducing the interest in pre-issued plates.

'Plate prices climbed in the second hand market before the auction with the highest price surging to 35,000 yuan,' said a dealer, surnamed Feng, from Shanghai General Motors.

'But the final increase was less than expected, reflecting the overall weak market demand for plates due to slow vehicle sales,' she said.

The number of bidders dropped to 11,882, compared to 13,451 in August and 16,783 for July. Passenger car sales dropped 6.4 percent year-on-year in August.