Land Rover Discovery I 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 Land Rover Discovery I cars has had a strong depreciation during the last 6 months we have studied. During the first month analyzed in October the average price was ₦ 2,850,000. November went through a strong inflation with a rise in the price till ₦ 3,314,063. The following two months the selling price went through a strong reduction of -57 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -75 % compared to the 4 previous average values going down from ₦ 2,210,141.75 to ₦ 554,910.5.
The average price for Land Rover Discovery I has had a strong rise in recent years. Between 2003 and 2004, the average price is ₦ 1,632,500. There was a significant inflation of the average price in 2003 (₦ 325,000) moving up till (₦ 2,940,000)in 2004. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -57 % compared to the previous period. 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 (₦ 946,771) and the the last two years that have been analyzed (2012, 2013) with a price of ₦ 1,193,333.5.
The graph that displays the price for Land Rover Discovery I cars according to their mileage shows that those cars within a mileage range of "less than 10,000" are the ones with the lowest price. They are 11 % more affordable than the average price (₦ 561,250). Next with a price of ₦ 712,500 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "50,000 - 100,000". It is 27% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 498,125.