Kia Sportage 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 Sportage cars has had a strong depreciation during the last 6 months we have studied. In September the price for a car is ₦ 3,669,250 increasing till ₦ 4,117,500 in October. The following two months the selling price went through a strong reduction of -49 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -76 % compared to the 4 previous average values going down from ₦ 2,939,309.5 to ₦ 702,944.
The average price for Kia Sportage has had a strong rise in recent years. Between 2005 and 2008, the average price is ₦ 782,172.5. There was a significant inflation of the average price in 2005 (₦ 483,333) moving up till (₦ 617,857)in 2008. Cars belonging to the model aforementioned had a price deflation of -6 percent in the next two years (2009, 2011) compared to the previous two years. During the last two years, prices in the car industry have gone through a strong rise of 16 % 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 (₦ 881,201.5) and the the last two years that have been analyzed (2012, 2013) with a price of ₦ 1,025,125.
The graph that displays the price for Kia Sportage 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 46 % more affordable than the average price (₦ 715,950). Next with a price of ₦ 408,333 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 149% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 971,821.