BMW 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 BMW cars has had a strong depreciation during the last 6 months we have studied. The average price in September was of ₦ 15,228,737. This price hardly went through any changes and remained at ₦ 15,226,862 during October. The following two months (November, December) the selling price went through a devaluation of -11 percent in the average selling price compared to the previous two months analyzed. In the last two months, the price has gone through a strong devaluation of -76 % compared to the 4 previous average values going down from ₦ 14,394,666 to ₦ 3,421,479.5.
The average price for BMW has had a strong rise in recent years. During the first sample analyzed ("before 2000" - 2013), the average selling price stood at ₦ 620,771.19. During this time, the price for "before 2000" which was ₦ 595,000 decreased to ₦ 550,392 during 2013. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -18 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 93 % 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 (₦ 7,128,571.5) and the the last two years that have been analyzed (2018, 2020) with a price of ₦ 13,750,000.
The graph that displays the price for BMW 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 88 % more affordable than the average price (₦ 3,462,203). Next with a price of ₦ 497,500 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most affordable cars is "less than 10,000". It is 39% less expensive than the average market value followed by those cars with a mileage of "more than 200,000" priced at ₦ 1,936,630.