Lexus IS 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 IS cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 14,502,487. During November the price went trough a strong deflation till ₦ 12,260,612. The following two months the selling price went through a strong reduction of -53 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -83 % compared to the 4 previous average values going down from ₦ 9,863,827 to ₦ 1,656,531.5.
The average price for Lexus IS has had a strong rise in recent years. Between 2003 y 2012, the average price is ₦ 1,342,143.88. There was a price inflation going from (₦ 1,125,000) to (₦ 1,187,500). During the next two years the average price(₦ 1,364,583.5) has hardly changed, remaining at a constant value compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 36 % compared to the average values for the previous 4 years. This was taken from studying the prices for the the preceding four years in previous sample (₦ 2,138,541.75) and the the last two years that have been analyzed (2015, 2018) with a price of ₦ 2,912,500.
The graph that displays the price for Lexus IS 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 60 % more affordable than the average price (₦ 1,685,719). Next with a price of ₦ 866,071 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "more than 200,000". It is 143% more costly than the average market value followed by those vehicles with a mileage of "100,000 - 200,000" and a price of ₦ 3,381,667.