Land Rover Range Rover 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 Range Rover cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 7,789,125. During November the price went trough a strong deflation till ₦ 5,392,745. 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 -77 % compared to the 4 previous average values going down from ₦ 4,891,990 to ₦ 1,139,932.5.
The average price for Land Rover Range Rover has remained constant in recent years. During the first sample analyzed, going from 2006 to 2011, the average price was ₦ 1,313,583.38. Please take note of of the significant depreciation in the prices between 2006 (₦ 1,817,450) and 2011 (₦ 573,077). During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -31 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 64 % 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 (₦ 2,503,277.75) and the the last two years that have been analyzed (2014, 2020) with a price of ₦ 4,105,555.5.
The graph that displays the price for Land Rover Range Rover 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 34 % more affordable than the average price (₦ 955,870). Next with a price of ₦ 700,526 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 546% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 2,230,000.