Hyundai Accent 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 Hyundai Accent cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 2,016,750. During November the price went trough a strong deflation till ₦ 1,589,333. The following two months the selling price went through a strong reduction of -35 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -41 % compared to the 4 previous average values going down from ₦ 1,488,232.25 to ₦ 882,672.5.
The average price for Hyundai Accent has had a strong rise in recent years. During the first sample analyzed (2003 - 2009), the average selling price stood at ₦ 645,000. During this time, the price for 2003 which was ₦ 775,000 decreased to ₦ 710,000 during 2009. During the next two years (2010, 2012) the price for the aforementioned model has gone up strongly a 37 %. During the last two years, prices in the car industry have gone through a strong rise of 41 % 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 (₦ 1,497,375) and the the last two years that have been analyzed (2013, 2014) with a price of ₦ 2,108,750.
The graph that displays the price for Hyundai Accent 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 60 % more affordable than the average price (₦ 871,443). Next with a price of ₦ 383,333 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 136% more costly than the average market value followed by those vehicles with a mileage of "50,000 - 100,000" and a price of ₦ 1,650,000.