Price for Renault

The selling price for Renault cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 2,575,375. During November the price went trough a strong deflation till ₦ 1,637,206. The following two months the selling price went through a strong reduction of -60 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -69 % compared to the 4 previous average values going down from ₦ 1,478,397.25 to ₦ 451,439.

The average price for Renault has gone through a significant depreciation in recent years. During the first sample analyzed, going from 2003 to 2009, the average price was ₦ 545,555.62. Please take note of of the significant depreciation in the prices between 2003 (₦ 561,111) and 2009 (₦ 400,000). During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -36 % compared to the previous period. During the last two years, prices in the car industry have gone up 14 % compared to the average values for the previous 4 years. This conclusion was reached from studying the prices for the the preceding four years in previous sample (₦ 404,791.5) and the the last two years that were studied (2012, 2013) with a price of ₦ 461,666.5.

The graph that displays the price for Renault 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 12 % more affordable than the average price (₦ 454,545). Next with a price of ₦ 600,000 and a mileage range of "more than 200,000" we would see the following vehicles. The mileage range for the most expensive cars is "25,000 - 50,000". It is 272% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 600,000.