Wenzhou (CNS) – An auction of 170 cars previously owned by the local government and state-run enterprises began on Sunday in Wenzhou, east China's Zhejiang Province.
A total of 8.8 million yuan in bids were made on the vehicles, which was seen as a successful beginning to the reform of the official car-use system in the area.
Over 700 such cars will be up for auction in December, said Zhang Jinghai, head of Wenzhou Auctioner's, who was surprised by how well things went on opening day.
An Audi A6 used for one year caused an uproar when it sold for 430,000 yuan, an even higher price than a new one, for example.
The Wenzhou municipal government has promised to complete the reform of the official car-use system in the first half of 2012.
