Hyundai Sonata 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 Hyundai Sonata cars have gone through a strong rise during the last 6 months. In December the price for a car is ₦ 3,935,625 increasing till ₦ 4,351,875 in January. During the following two months (February, March) the average selling price rose somewhat going from ₦ 4,143,750 to ₦ 4,638,500. The average price has had spectacular rise of 16 % with an average price of ₦ 4,391,125 during the previous 4 months and ₦ 5,115,250 during the most recent months in April and May.
The average price for Hyundai Sonata has had a strong rise in recent years. Between 2001 and 2012, the average price is ₦ 1,415,471.12. There was a significant inflation of the average price in 2001 (₦ 513,333) moving up till (₦ 2,793,750)in 2012. During the next two years (2013, 2014) the price for the aforementioned model has gone up strongly a 139 %. During the last two years, prices in the car industry have gone through a strong rise of 31 % 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 (₦ 4,901,463) and the the last two years that have been analyzed (2015, 2016) with a price of ₦ 6,416,928.5.
The graph that displays the price for Hyundai Sonata cars according to their mileage shows that those cars within a mileage range of "100,000 - 200,000" are the ones with the lowest price. They are 71 % more affordable than the average price (₦ 5,049,125). Next with a price of ₦ 1,888,154 and a mileage range of "more than 200,000" we would see the following vehicles. The mileage range for the most affordable cars is "25,000 - 50,000". It is 34% less expensive than the average market value followed by those cars with a mileage of "50,000 - 100,000" priced at ₦ 3,281,500.