Lexus 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 Lexus cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 19,293,750. This price hardly went through any changes and remained at ₦ 19,045,375 during November. The following two months the selling price went through a strong reduction of -35 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -59 % compared to the 4 previous average values going down from ₦ 15,819,596 to ₦ 6,460,165.5.
The average price for Lexus has had a strong rise in recent years. Between "before 2000" and 2018, the average price is ₦ 1,957,152.62. There was a significant inflation of the average price in "before 2000" (₦ 1,781,125) moving up till (₦ 5,787,500)in 2018. During the next two years (2019, 2020) the price for the aforementioned model has gone up strongly a 110 %. During the last two years the price has remained constant with regard to the previous 4 years, going from an average price of ₦ 4,064,583.25 in 2021 and ₦ 4,012,500 during 2022.
The graph that displays the price for Lexus 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 88 % more affordable than the average price (₦ 6,526,733). Next with a price of ₦ 987,763 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most affordable cars is "less than 10,000". It is 36% less expensive than the average market value followed by those cars with a mileage of "100,000 - 200,000" priced at ₦ 4,177,171.
The graph showing the average price for the fuel type for Lexus cars points out to "Diesel" as being the cheapest fuel type. It is 59 % less expensive than the average market price (₦ 6,526,733) followed by "Petrol" priced at ₦ 6,274,291. On average the cheapest type of fuel is "Petrol". It´s price is 4 % more affordable than the average market value followed by "Diesel" with a price of ₦ 2,650,000.