Volkswagen Vehicles have gone through a strong increase in their selling price recently. There has been a considerable inflation in the selling prices for this model.
The retail prices for Volkswagen cars have gone through a strong rise during the last 6 months. In February the price for a car is ₦ 3,980,303 increasing till ₦ 4,224,112 in March. During the following two months (April, May) the average selling price experienced a noticeable rise, going up 19 % from ₦ 4,102,207.5 to ₦ 4,893,099.5. During the last couple of months, the average price has hardly changed, remaining the same going from ₦ 4,497,653.5 to ₦ 4,469,374.5 during June and July.
The average price for Volkswagen has had a strong rise in recent years. Between "before 2000" and 2014, the average price is ₦ 875,110.38. There was a significant inflation of the average price in "before 2000" (₦ 859,500) moving up till (₦ 2,332,667)in 2014. During the next two years (2015, 2016) the price for the aforementioned model has gone up strongly a 250 %. During the last two years, the car industry has had a strong deflation in its selling prices of -33 % compared to the average values for the previous 4 years. This has been obtained from analysing the prices for the the preceding four years in a previous sample (₦ 2,297,048) and the the last two years (2017, 2019) with a price of ₦ 1,534,166.5.
The graph that displays the price for Volkswagen cars according to their mileage shows that those cars within a mileage range of "more than 200,000" are the ones with the lowest price. They are 85 % more affordable than the average price (₦ 4,182,855). Next with a price of ₦ 633,438 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 36% less expensive than the average market value followed by those cars with a mileage of "50,000 - 100,000" priced at ₦ 2,512,156.
The graph showing the average price for the fuel type for Volkswagen cars points out to "Diesel" as being the cheapest fuel type. It is 87 % less expensive than the average market price (₦ 4,182,855) followed by "Petrol" priced at ₦ 764,006. On average the cheapest type of fuel is "Petrol". It´s price is 82 % more affordable than the average market value followed by "Diesel" with a price of ₦ 537,500.