Citroën 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 Citroën cars has had a strong depreciation during the last 6 months we have studied. In November the average price per vehicle is ₦ 978,125. During December the price went trough a strong deflation till ₦ 654,000. The following two months the selling price went through a strong reduction of -46 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -33 % compared to the 4 previous average values going down from ₦ 629,031.25 to ₦ 419,405.5.
The average price for Citroën has had a strong rise in recent years. Between 2001 and 2010, the average price is ₦ 372,543.19. There was a significant inflation of the average price in 2001 (₦ 300,000) moving up till (₦ 416,429)in 2010. During the next two years (2011, 2012) the price for the aforementioned model has gone up strongly a 21 %. During the last two years, prices in the car industry have experienced a depreciation of -10 % 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 (₦ 407,660.5) and the the last two years analyzed (2013, 2014) with a price of ₦ 366,375.
The graph that displays the price for Citroën 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 13 % more affordable than the average price (₦ 402,436). Next with a price of ₦ 373,954 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "10,000 - 25,000". It is 151% more costly than the average market value followed by those vehicles with a mileage of "25,000 - 50,000" and a price of ₦ 576,667.