GMC 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 GMC cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 3,713,750. During November the price went trough a strong deflation till ₦ 2,182,500. 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 -56 % compared to the 4 previous average values going down from ₦ 2,118,654.75 to ₦ 927,759.5.
The average price for GMC has had a strong rise in recent years. Between 2000 and 2009, the average price is ₦ 872,838.62. There was a significant inflation of the average price in 2000 (₦ 375,000) moving up till (₦ 940,625)in 2009. During the next two years (2010, 2011) the price for the aforementioned model has gone up strongly a 34 %. During the last two years the price has remained constant with regard to the previous 4 years, going from an average price of ₦ 1,157,963.75 in 2012 and ₦ 1,147,802.5 during 2013.
The graph that displays the price for GMC 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 13 % more affordable than the average price (₦ 905,519). Next with a price of ₦ 1,481,250 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "more than 200,000". It is 184% more costly than the average market value followed by those vehicles with a mileage of "100,000 - 200,000" and a price of ₦ 2,245,000.