10.000 EUR for a Shanghai License Plate

Automobilists have had a tough time in Shanghai during the last months, and signs are on things getting worse. I don't refer to driving. Driving on Chinese roads will be for years to come a - more than anywhere else - suicidal undertaking. I talk about getting one's car supplied with a Shanghai license plate. During the 4th quarter of 2012 these square, blue metal boards were sold for some CNY 60k (EUR 8k). Now three months later a new license plate will cost you CNY 91k, a second hand license plate CNY 103k (EUR 12k). A BYD F0, the most sold car in China, comes for a teenage pocket money of CNY 30k, i.e. I could by three such cars for the price of a Shanghai license plate. Nobody drives these cars though in China's New York. Shanghai residents who are able to afford a local license plate, usually aim for something of higher status on the automotive market.