Hyundai Elantra 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 Elantra cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 7,554,875. During November there was a slight reduction in the selling prices dropping till ₦ 6,712,175. The following two months the selling price went through a strong reduction of -44 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -66 % compared to the 4 previous average values going down from ₦ 5,554,202 to ₦ 1,914,963.5.
The average price for Hyundai Elantra has had a strong rise in recent years. During the first sample analyzed, going from 2007 to 2011, the average price was ₦ 1,409,508.38. Please take note of of the significant depreciation in the prices between 2007 (₦ 1,149,000) and 2011 (₦ 516,667). During the next two years (2012, 2013) the price for the aforementioned model has gone up strongly a 120 %. During the last two years, prices in the car industry have experienced a depreciation of -11 % compared to the average prices for the previous 4 years. This has been obtained from prices from the the previous four years in a previous sample (₦ 2,800,738.75) and the the last two years analyzed (2014, 2017) with a price of ₦ 2,500,000.
The graph that displays the price for Hyundai Elantra 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 85 % more affordable than the average price (₦ 2,141,938). Next with a price of ₦ 1,937,500 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most expensive cars is "50,000 - 100,000". It is 36% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 2,676,875.