Lexus LX Vehicles have gone through a slight decrease in their retail price recently. This model has gone through an overall fall in its selling price.
The selling price for Lexus LX cars has fallen during the last 6 months we have analyzed. During the first month analyzed in September the average price was ₦ 9,242,857. October went through a strong inflation with a rise in the price till ₦ 11,082,456. The average selling price has remained fairly constant during the following two months, going from ₦ 10,162,656 to ₦ 10,166,868. In the last two months, the price has gone through a strong devaluation of -51 % compared to the 4 previous average values going down from ₦ 10,164,762 to ₦ 4,936,504.
The average price for Lexus LX has had a strong rise in recent years. Between "before 2000" and 2013, the average price is ₦ 5,168,647.5. There was a significant inflation of the average price in "before 2000" (₦ 2,450,000) moving up till (₦ 4,010,000)in 2013. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -45 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 84 % 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 (₦ 17,982,310) and the the last two years that have been analyzed (2018, 2020) with a price of ₦ 33,123,334.
The graph that displays the price for Lexus LX 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 46 % more affordable than the average price (₦ 4,181,501). Next with a price of ₦ 2,925,000 and a mileage range of "100,000 - 200,000" we would see the following vehicles. The mileage range for the most expensive cars is "50,000 - 100,000". It is 180% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 3,400,000.