Lexus LS 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 LS cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 5,432,500. During November the price went trough a strong deflation till ₦ 3,552,000. The following two months the selling price went through a strong reduction of -58 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -69 % compared to the 4 previous average values going down from ₦ 3,187,049.75 to ₦ 973,794.
The average price for Lexus LS has had a strong rise in recent years. Between 2004 and 2009, the average price is ₦ 1,257,341.75. There was a significant inflation of the average price in 2004 (₦ 480,000) moving up till (₦ 666,667)in 2009. During the next two years the average price(₦ 1,214,583.5) has hardly changed, remaining at a constant value compared to the previous period. During the last two years, the car industry has had a strong deflation in its selling prices of -35 % 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 (₦ 900,942.5) and the the last two years (2012, 2013) with a price of ₦ 587,301.5.
The graph that displays the price for Lexus LS 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 43 % more affordable than the average price (₦ 1,008,302). Next with a price of ₦ 866,667 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "more than 200,000". It is 358% more costly than the average market value followed by those vehicles with a mileage of "100,000 - 200,000" and a price of ₦ 2,979,000.