Kia Optima 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 Kia Optima cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 4,295,363. During November the price went trough a strong deflation till ₦ 3,012,560. The following two months the selling price went through a strong reduction of -52 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -73 % compared to the 4 previous average values going down from ₦ 2,700,908.25 to ₦ 739,536.5.
The average price for Kia Optima has had a strong rise in recent years. During the first sample analyzed (2006 - 2009), the average selling price stood at ₦ 703,965.25. During this time, the price for 2006 which was ₦ 400,000 decreased to ₦ 350,000 during 2009. During the next two years (2010, 2011) the price for the aforementioned model has gone up strongly a 16 %. During the last two years, prices in the car industry have gone through a strong rise of 26 % 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 (₦ 1,101,190.25) and the the last two years that have been analyzed (2012, 2013) with a price of ₦ 1,388,095.
The graph that displays the price for Kia Optima 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 43 % more affordable than the average price (₦ 811,257). Next with a price of ₦ 615,563 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 108% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 615,563.