Lexus ES 300 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 Lexus ES 300 cars has had a strong depreciation during the last 6 months we have studied. In July the price for a car is ₦ 971,429 increasing till ₦ 1,066,667 in August. The following two months the selling price went through a strong reduction of -56 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -48 % compared to the 4 previous average values going down from ₦ 734,524 to ₦ 380,263.
The average price for Lexus ES 300 has remained constant in recent years. During 2003 and 2003, the average price was ₦ 1,033,333. During this period, prices pretty much remained constant. During the next two years (2005, 2006) the price for the aforementioned model has gone up strongly a 55 %. During the last two years, the car industry has had a strong deflation in its selling prices of -55 % compared to the average values for the previous 4 years. This has been obtained from analysing the prices for the the preceding four years in a previous sample (₦ 1,032,500) and the the last two years (2010, 2014) with a price of ₦ 460,000.
The graph that displays the price for Lexus ES 300 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 (₦ 760,526). Next with a price of ₦ 686,364 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "10,000 - 25,000". It is 49% more costly than the average market value followed by those vehicles with a mileage of "50,000 - 100,000" and a price of ₦ 850,000.