Ford Vehicles have gone through a strong increase in their selling price recently. There has been a considerable inflation in the selling prices for this model.
The retail prices for Ford cars have gone through a strong rise during the last 6 months. The average price in September was of ₦ 2,117,945. This price hardly went through any changes and remained at ₦ 2,221,377 during October. The following two months (November, December) the selling price went through a devaluation of -15 percent in the average selling price compared to the previous two months analyzed. The average price has had spectacular rise of 86 % with an average price of ₦ 2,010,435.25 during the previous 4 months and ₦ 3,730,449.5 during the most recent months in January and February.
The average price for Ford has had a strong rise in recent years. Between "before 2000" and 2017, the average price is ₦ 1,492,352.62. There was a significant inflation of the average price in "before 2000" (₦ 682,222) moving up till (₦ 2,780,000)in 2017. During the next two years (2018, 2019) the price for the aforementioned model has gone up strongly a 56 %. During the last two years, prices in the car industry have gone up 14 % 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 (₦ 2,723,341.25) and the the last two years that were studied (2020, 2021) with a price of ₦ 3,113,557.5.
The graph that displays the price for Ford 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 5 % more affordable than the average price (₦ 3,893,349). Next with a price of ₦ 4,654,000 and a mileage range of "more than 200,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 51% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 4,654,000.
The graph showing the average price for the fuel type for Ford cars points out to "Diesel" as being the cheapest fuel type. It is 41 % less expensive than the average market price (₦ 3,893,349) followed by "Gas" priced at ₦ 3,218,182. On average the cheapest type of fuel is "Petrol". It´s price is 14 % more affordable than the average market value followed by "Gas" with a price of ₦ 3,218,182.