Jeep 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 Jeep cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 8,156,288. During November the price went trough a strong deflation till ₦ 6,064,600. The following two months the selling price went through a strong reduction of -57 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -79 % compared to the 4 previous average values going down from ₦ 5,093,403 to ₦ 1,056,906.5.
The average price for Jeep has had a strong rise in recent years. During 2002 and 2013, the average price was ₦ 843,214.31. During this period, prices pretty much remained constant. During the next two years (2014, 2015) the price for the aforementioned model has gone up strongly a 269 %. During the last two years the price has remained constant with regard to the previous 4 years, going from an average price of ₦ 3,141,666.5 in 2017 and ₦ 3,175,000 during 2018.
The graph that displays the price for Jeep cars according to their mileage shows that those cars within a mileage range of "25,000 - 50,000" are the ones with the lowest price. They are 59 % more affordable than the average price (₦ 1,059,813). Next with a price of ₦ 500,000 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most expensive cars is "more than 200,000". It is 77% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 954,133.