Dodge 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 Dodge cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 11,493,125. During November the price went trough a strong deflation till ₦ 8,031,250. The following two months the selling price went through a strong reduction of -60 % 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 ₦ 6,829,297 to ₦ 899,312.5.
The average price for Dodge has had a strong rise in recent years. Between 2000 and 2010, the average price is ₦ 513,611.09. There was a significant inflation of the average price in 2000 (₦ 280,000) moving up till (₦ 470,000)in 2010. During the next two years (2011, 2012) the price for the aforementioned model has gone up strongly a 17 %. During the last two years, prices in the car industry have gone through a strong rise of 39 % 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 (₦ 986,408.25) and the the last two years that have been analyzed (2013, 2014) with a price of ₦ 1,374,123.5.
The graph that displays the price for Dodge cars according to their mileage shows that those cars within a mileage range of "100,000 - 200,000" are the ones with the lowest price. They are 42 % more affordable than the average price (₦ 757,500). Next with a price of ₦ 460,000 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "more than 200,000". It is 23% more costly than the average market value followed by those vehicles with a mileage of "50,000 - 100,000" and a price of ₦ 728,182.