Honda CR-V 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 Honda CR-V cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 13,675,938. During November the price went trough a strong deflation till ₦ 11,249,687. 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 -80 % compared to the 4 previous average values going down from ₦ 9,087,543 to ₦ 1,790,323.
The average price for Honda CR-V has had a strong rise in recent years. Between "before 2000" and 2010, the average price is ₦ 830,115.56. There was a significant inflation of the average price in "before 2000" (₦ 560,833) moving up till (₦ 655,321)in 2010. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -29 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 39 % 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 (₦ 968,084.25) and the the last two years that have been analyzed (2013, 2014) with a price of ₦ 1,348,397.5.
The graph that displays the price for Honda CR-V cars according to their mileage shows that those cars within a mileage range of "10,000 - 25,000" are the ones with the lowest price. They are 68 % more affordable than the average price (₦ 1,754,127). Next with a price of ₦ 670,000 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 27% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 1,795,868.