Lexus RX 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 RX cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 17,628,500. This price hardly went through any changes and remained at ₦ 17,327,250 during November. The following two months the selling price went through a strong reduction of -38 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -68 % compared to the 4 previous average values going down from ₦ 14,123,856 to ₦ 4,567,637.5.
The average price for Lexus RX has gone through a significant depreciation in recent years. During the first sample analyzed, going from "before 2000" to 2013, the average price was ₦ 1,535,568.5. Please take note of of the significant depreciation in the prices between "before 2000" (₦ 2,784,278) and 2013 (₦ 1,600,000). During the next two years (2014, 2015) the price for the aforementioned model has gone up strongly a 107 %. During the last two years, the car industry has had a strong deflation in its selling prices of -32 % 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 (₦ 2,417,777.75) and the the last two years (2016, 2018) with a price of ₦ 1,650,000.
The graph that displays the price for Lexus RX 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 80 % more affordable than the average price (₦ 4,413,356). Next with a price of ₦ 1,020,588 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most affordable cars is "100,000 - 200,000". It is 0% less expensive than the average market value followed by those cars with a mileage of "more than 200,000" priced at ₦ 3,199,676.
The graph showing the average price for the fuel type for Lexus RX cars points out to "Diesel" as being the cheapest fuel type. It is 37 % less expensive than the average market price (₦ 4,413,356) followed by "Petrol" priced at ₦ 3,985,981. On average the cheapest type of fuel is "Petrol". It´s price is 10 % more affordable than the average market value followed by "Diesel" with a price of ₦ 2,769,231.