Peugeot 406 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 Peugeot 406 cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 2,382,125. During November there was a slight reduction in the selling prices dropping till ₦ 2,110,250. The following two months the selling price went through a strong reduction of -43 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -55 % compared to the 4 previous average values going down from ₦ 1,768,642.75 to ₦ 793,337.5.
The average price for Peugeot 406 has become more expensive in recent years. Between "before 2000" and 2007, the average price is ₦ 941,088. There was a significant inflation of the average price in "before 2000" (₦ 841,944) moving up till (₦ 1,437,500)in 2007. Cars belonging to the model aforementioned had a price deflation of -12 percent in the next two years (2008, 2009) compared to the previous two years. During the last two years, prices in the car industry have gone up 12 % compared to the average values for the previous 4 years. This conclusion was reached from studying the prices for the the preceding four years in previous sample (₦ 948,402.75) and the the last two years that were studied (2012, 2014) with a price of ₦ 1,066,666.5.
The graph that displays the price for Peugeot 406 cars according to their mileage shows that those cars within a mileage range of "25,000 - 50,000" are the ones with the lowest price. They are 49 % more affordable than the average price (₦ 844,525). Next with a price of ₦ 660,667 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 199% more costly than the average market value followed by those vehicles with a mileage of "50,000 - 100,000" and a price of ₦ 1,862,500.