Lexus Vehicles have gone through a slight decrease in their retail price recently. This model has gone through an overall fall in its selling price.
The selling price for Lexus cars has fallen during the last 6 months we have analyzed. The average price in March was of ₦ 21,954,312. This price hardly went through any changes and remained at ₦ 20,928,125 during April. The following two months (May, June) the selling price went through a devaluation of -9 percent in the average selling price compared to the previous two months analyzed. In the last two, the price has gone through a -5 % devaluation compared to the previous average values going down from ₦ 20,451,390 to ₦ 19,380,312 during July and August.
The average price for Lexus has had a strong rise in recent years. Between "before 2000" and 2018, the average price is ₦ 10,172,485. There was a significant inflation of the average price in "before 2000" (₦ 2,254,412) moving up till (₦ 9,438,636)in 2018. During the next two years (2019, 2020) the price for the aforementioned model has gone up strongly a 35 %. During the last two years, prices in the car industry have experienced a depreciation of -14 % 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 (₦ 12,059,458) and the the last two years analyzed (2021, 2022) with a price of ₦ 10,385,000.
The graph that displays the price for Lexus cars according to their mileage shows that those cars within a mileage range of "10,000 - 25,000" are the ones with the lowest price. They are 83 % more affordable than the average price (₦ 19,355,000). Next with a price of ₦ 8,101,875 and a mileage range of "more than 200,000" we would see the following vehicles. The mileage range for the most affordable cars is "less than 10,000". It is 2% less expensive than the average market value followed by those cars with a mileage of "50,000 - 100,000" priced at ₦ 18,094,500.
The graph showing the average price for the fuel type for Lexus cars points out to "Petrol" as being the cheapest fuel type. It is 91 % less expensive than the average market price (₦ 19,355,000) followed by "Diesel" priced at ₦ 8,750,000. On average the cheapest type of fuel is "Diesel". It´s price is 55 % more affordable than the average market value followed by "Petrol" with a price of ₦ 1,747,863.