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 September was of ₦ 17,573,500. This price hardly went through any changes and remained at ₦ 17,628,500 during October. The average selling price has remained fairly constant during the following two months, going from ₦ 17,601,000 to ₦ 17,253,812. In the last two months, the price has gone through a strong devaluation of -74 % compared to the 4 previous average values going down from ₦ 17,427,406 to ₦ 4,540,608.
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 ₦ 1,415,048.5. Please take note of of the significant depreciation in the prices between "before 2000" (₦ 2,437,364) and 2013 (₦ 1,771,875). During the next two years (2014, 2015) the price for the aforementioned model has gone up strongly a 135 %. During the last two years, prices in the car industry have gone up 10 % compared to the average values for the previous 4 years. This conclusion was reached from studying the prices for the the preceding four years in previous sample (₦ 3,695,483.25) and the the last two years that were studied (2016, 2017) with a price of ₦ 4,069,300.
The graph that displays the price for Lexus RX cars according to their mileage shows that those cars within a mileage range of "10,000 - 25,000" are the ones with the lowest price. They are 82 % more affordable than the average price (₦ 4,721,919). Next with a price of ₦ 1,079,074 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most affordable cars is "100,000 - 200,000". It is 11% less expensive than the average market value followed by those cars with a mileage of "less than 10,000" priced at ₦ 3,222,750.
The graph showing the average price for the fuel type for Lexus RX cars points out to "Petrol" as being the cheapest fuel type. It is 10 % less expensive than the average market price (₦ 4,721,919) followed by "Hybrid" priced at ₦ 7,350,000. On average the most expensive type of fuel is "Hybrid". It´s price is 56 % higher than the average market price followed by "Petrol" which costs ₦ 4,227,519.