Toyota 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 Toyota cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 19,661,250. This price hardly went through any changes and remained at ₦ 19,602,250 during November. The following two months (December, January) the selling price went through a devaluation of -12 percent in the average selling price compared to the previous two months analyzed. In the last two months, the price has gone through a strong devaluation of -44 % compared to the 4 previous average values going down from ₦ 18,439,876 to ₦ 10,330,829.
The average price for Toyota has had a strong rise in recent years. Between "before 2000" and 2019, the average price is ₦ 3,525,971. There was a significant inflation of the average price in "before 2000" (₦ 1,044,066) moving up till (₦ 6,032,143)in 2019. During the next two years (2020, 2021) the price for the aforementioned model has gone up strongly a 74 %. During the last two years, prices in the car industry have gone through a strong rise of 20 % 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 (₦ 7,683,772) and the the last two years that have been analyzed (2022, 2023) with a price of ₦ 9,237,857.
The graph that displays the price for Toyota 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 77 % more affordable than the average price (₦ 8,005,670). Next with a price of ₦ 2,276,813 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most affordable cars is "less than 10,000". It is 6% less expensive than the average market value followed by those cars with a mileage of "100,000 - 200,000" priced at ₦ 6,141,182.
The graph showing the average price for the fuel type for Toyota cars points out to "Diesel" as being the cheapest fuel type. It is 85 % less expensive than the average market price (₦ 8,005,670) followed by "Hybrid" priced at ₦ 4,659,375. On average the cheapest type of fuel is "Petrol". It´s price is 5 % more affordable than the average market value followed by "Hybrid" with a price of ₦ 4,659,375.