Kia Spectra 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 Kia Spectra cars has fallen during the last 6 months we have analyzed. The average price in October was of ₦ 520,000. This price hardly went through any changes and remained at ₦ 535,313 during November. The following two months the selling price went through a strong reduction of -15 % compared to the previous two months studied. In the last two, the price has gone through a -5 % devaluation compared to the previous average values going down from ₦ 486,849 to ₦ 460,440 during February and March.
The average price for Kia Spectra has had a strong rise in recent years. During the first sample analyzed, going from 2003 to 2007, the average price was ₦ 559,666.62. Please take note of of the significant depreciation in the prices between 2003 (₦ 375,000) and 2007 (₦ 280,000). Cars belonging to the model aforementioned had a price deflation of -13 percent in the next two years (2008, 2010) compared to the previous two years. During the last two years, prices in the car industry have gone through a strong rise of 19 % 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 (₦ 601,875) and the the last two years that have been analyzed (2011, 2013) with a price of ₦ 718,750.
The graph that displays the price for Kia Spectra cars according to their mileage shows that those cars within a mileage range of "50,000 - 100,000" are the ones with the lowest price. They are 14 % more affordable than the average price (₦ 469,630). Next with a price of ₦ 436,667 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "more than 200,000". It is 118% more costly than the average market value followed by those vehicles with a mileage of "25,000 - 50,000" and a price of ₦ 666,667.