Lexus GX 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 Lexus GX cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 19,126,875. This price hardly went through any changes and remained at ₦ 18,681,875 during November. The following two months the selling price went through a strong reduction of -44 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -73 % compared to the 4 previous average values going down from ₦ 14,729,032 to ₦ 4,013,982.5.
The average price for Lexus GX has had a strong rise in recent years. Between 2003 y 2005, the average price is ₦ 3,707,708.25. There was a price inflation going from (₦ 3,644,000) to (₦ 4,151,000). During the next two years (2006, 2007) the price for the aforementioned model has gone up strongly a 40 %. During the last two years, prices in the car industry have experienced a depreciation of -13 % compared to the average prices for the previous 4 years. This has been obtained from prices from the the previous four years in a previous sample (₦ 4,589,345) and the the last two years analyzed (2010, 2011) with a price of ₦ 4,000,000.
The graph that displays the price for Lexus GX cars according to their mileage shows that those cars within a mileage range of "50,000 - 100,000" are the ones with the lowest price. They are 62 % more affordable than the average price (₦ 3,982,389). Next with a price of ₦ 2,984,762 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 59% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 5,259,000.