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| Car Purchases May Drop 5% |
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The high cost of gas and auto tags appears to be making a dent in the number of people planning to buy a car in the near future. A city survey of 10,000 people in the last three months has found 65 percent of the respondents said they plan to purchase a car in the next three years. The survey was conducted by the Shanghai Commission of Consumers' Rights and Interests Protection. It showed the number of people interested in a car purchase has slipped by 5 percentage points, compared to the commission's last survey in 2004. Price of the plate and the car, as well as traffic are causing people to hold off on their auto purchases, said commission secretary general Zhao Jiaoli. The survey also found demand for domestic brands is rising, though joint-venture brands remain most popular. Most potential buyers said they'd pay between 100,000 yuan (US$12,471) and 150,000 yuan for a sedan, much higher than in 2004 when nearly 46 percent of respondents said they'd pay up to 100,000 yuan. (Shanghai Daily April 17, 2006)
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