Chevrolet 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 Chevrolet cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 13,251,862. During November the price went trough a strong deflation till ₦ 10,183,125. The following two months the selling price went through a strong reduction of -56 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -87 % compared to the 4 previous average values going down from ₦ 8,407,338 to ₦ 1,107,929.5.
The average price for Chevrolet has remained constant in recent years. Between "before 2000" and 2009, the average price is ₦ 724,674.5. There was a significant inflation of the average price in "before 2000" (₦ 740,000) moving up till (₦ 1,313,393)in 2009. Cars belonging to the model aforementioned had a price deflation of -13 percent in the next two years (2010, 2011) compared to the previous two years. During the last two years, prices in the car industry have gone up 7 % 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 (₦ 682,428.5) and the the last two years that were studied (2012, 2013) with a price of ₦ 731,116.
The graph that displays the price for Chevrolet cars according to their mileage shows that those cars within a mileage range of "less than 10,000" are the ones with the lowest price. They are 53 % more affordable than the average price (₦ 982,359). Next with a price of ₦ 491,176 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 105% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 1,204,375.