Hyundai Sonata Vehicles have gone through a slight decrease in their retail price recently. This model has gone through an overall fall in its selling price.
The selling price for Hyundai Sonata cars has fallen during the last 6 months we have analyzed. The average price in March was of ₦ 5,166,375. This price hardly went through any changes and remained at ₦ 5,181,375 during April. The following two months (May, June) the selling price went through a devaluation of -9 percent in the average selling price compared to the previous two months analyzed. In the last two, the price has gone through a -7 % devaluation compared to the previous average values going down from ₦ 4,952,812.5 to ₦ 4,624,425 during July and August.
The average price for Hyundai Sonata has had a strong rise in recent years. Between 2001 and 2012, the average price is ₦ 1,423,182.62. There was a significant inflation of the average price in 2001 (₦ 404,578) moving up till (₦ 2,641,083)in 2012. During the next two years (2013, 2014) the price for the aforementioned model has gone up strongly a 146 %. 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 (₦ 5,109,248.5) and the the last two years that have been analyzed (2015, 2016) with a price of ₦ 6,714,881.
The graph that displays the price for Hyundai Sonata cars according to their mileage shows that those cars within a mileage range of "more than 200,000" are the ones with the lowest price. They are 67 % more affordable than the average price (₦ 4,467,612). Next with a price of ₦ 1,686,486 and a mileage range of "100,000 - 200,000" we would see the following vehicles. The mileage range for the most affordable cars is "50,000 - 100,000". It is 26% less expensive than the average market value followed by those cars with a mileage of "25,000 - 50,000" priced at ₦ 3,224,615.