Volkswagen 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 Volkswagen cars has had a strong depreciation during the last 6 months we have studied. The average price for November is ₦ 8,238,750. During December there was a slight reduction in the selling prices dropping till ₦ 7,594,375. The following two months the selling price went through a strong reduction of -64 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -60 % compared to the 4 previous average values going down from ₦ 5,364,628 to ₦ 2,168,591.5.
The average price for Volkswagen has had a strong rise in recent years. Between "before 2000" and 2014, the average price is ₦ 615,597.88. There was a significant inflation of the average price in "before 2000" (₦ 641,420) moving up till (₦ 1,350,000)in 2014. During the next two years (2016, 2018) the price for the aforementioned model has gone up strongly a 237 %. During the last two years, prices in the car industry have gone through a strong rise of 22 % 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 (₦ 2,670,833.25) and the the last two years that have been analyzed (2019, 2020) with a price of ₦ 3,266,666.5.
The graph that displays the price for Volkswagen 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 82 % more affordable than the average price (₦ 1,962,656). Next with a price of ₦ 379,167 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 2% less expensive than the average market value followed by those cars with a mileage of "more than 200,000" priced at ₦ 403,750.
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 56 % less expensive than the average market price (₦ 1,962,656) followed by "Petrol" priced at ₦ 1,712,988. On average the cheapest type of fuel is "Petrol". It´s price is 13 % more affordable than the average market value followed by "Diesel" with a price of ₦ 864,412.