Honda Element Vehicles have experienced a considerable decrease in their selling price recently. This model has gone through a strong reduction in its selling price.
The selling price for Honda Element cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 1,287,679. During November the price went trough a strong deflation till ₦ 1,044,950. The following two months the selling price went through a strong reduction of -22 % compared to the previous two months studied. In the last two, the price has gone through a -5 % devaluation compared to the previous average values going down from ₦ 1,037,815 to ₦ 985,208.5 during February and March.
The average price for Honda Element has gone through a significant depreciation in recent years. During the first sample analyzed, going from 2009 to 2010, the average price was ₦ 1,056,111. Please take note of of the significant depreciation in the prices between 2009 (₦ 1,362,222) and 2010 (₦ 750,000).