Mitsubishi 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 Mitsubishi cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 11,343,500. During November the price went trough a strong deflation till ₦ 9,124,375. The following two months the selling price went through a strong reduction of -54 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -82 % compared to the 4 previous average values going down from ₦ 7,463,383 to ₦ 1,338,492.
The average price for Mitsubishi has had a strong rise in recent years. Between "before 2000" and 2010, the average price is ₦ 1,105,297.88. There was a significant inflation of the average price in "before 2000" (₦ 843,750) moving up till (₦ 1,140,357)in 2010. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -56 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 71 % compared to the average values for the previous 4 years. This was taken from studying the prices for the the preceding four years in previous sample (₦ 1,646,305.25) and the the last two years that have been analyzed (2013, 2019) with a price of ₦ 2,809,375.
The graph that displays the price for Mitsubishi 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 41 % more affordable than the average price (₦ 952,281). Next with a price of ₦ 659,625 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 60% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 1,157,692.