Mazda 3 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 Mazda 3 cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 1,293,984. During November the price went trough a strong deflation till ₦ 1,095,119. The following two months the selling price went through a strong reduction of -31 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -40 % compared to the 4 previous average values going down from ₦ 1,007,176.75 to ₦ 606,637.
The average price for Mazda 3 has had a strong rise in recent years. Between 2001 and 2008, the average price is ₦ 845,851.19. There was a significant inflation of the average price in 2001 (₦ 480,000) moving up till (₦ 781,250)in 2008. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -19 % compared to the previous period. During the last two years, prices in the car industry have experienced a depreciation of -12 % compared to the average prices for the previous 4 years. This has been obtained from prices from the the previous four years in a previous sample (₦ 615,000) and the the last two years analyzed (2011, 2012) with a price of ₦ 541,666.5.
The graph that displays the price for Mazda 3 cars according to their mileage shows that those cars within a mileage range of "50,000 - 100,000" are the ones with the lowest price. They are 48 % more affordable than the average price (₦ 611,774). Next with a price of ₦ 542,778 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 154% more costly than the average market value followed by those vehicles with a mileage of "25,000 - 50,000" and a price of ₦ 822,500.