Lexus GS 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 GS cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 8,622,875. During November there was a slight reduction in the selling prices dropping till ₦ 7,644,625. The following two months the selling price went through a strong reduction of -54 % 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 ₦ 5,938,558 to ₦ 1,513,051.5.
The average price for Lexus GS has had a strong rise in recent years. Between 2004 and 2008, the average price is ₦ 2,359,376.5. There was a significant inflation of the average price in 2004 (₦ 687,500) moving up till (₦ 3,476,292)in 2008. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -84 % 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 (₦ 500,916.75) and the the last two years that have been analyzed (2012, 2013) with a price of ₦ 629,333.5.
The graph that displays the price for Lexus GS 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 73 % more affordable than the average price (₦ 1,296,413). Next with a price of ₦ 475,000 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 278% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 3,132,500.