Mercedes Benz C240 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 Mercedes Benz C240 cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 1,738,000. During November there was a slight reduction in the selling prices dropping till ₦ 1,603,729. The following two months the selling price went through a strong reduction of -26 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -43 % compared to the 4 previous average values going down from ₦ 1,453,489.25 to ₦ 828,807.5.
The average price for Mercedes Benz C240 has gone through a significant depreciation in recent years. During the first sample analyzed (2003 - 2004), the average selling price stood at ₦ 1,485,000. During this time, the price for 2003 which was ₦ 1,568,333 decreased to ₦ 1,401,667 during 2004. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -67 % compared to the previous period. During the last two years, the car industry has had a strong deflation in its selling prices of -21 % 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 (₦ 397,916.75) and the the last two years (2011, 2014) with a price of ₦ 312,500.
The graph that displays the price for Mercedes Benz C240 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 23 % more affordable than the average price (₦ 827,059). Next with a price of ₦ 883,333 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "25,000 - 50,000". It is 7% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 635,500.