Mercedes Benz CLK 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 CLK cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 1,587,759. This price hardly went through any changes and remained at ₦ 1,618,351 during November. The following two months the selling price went through a strong reduction of -43 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -61 % compared to the 4 previous average values going down from ₦ 1,255,460 to ₦ 491,375.
The average price for Mercedes Benz CLK has had a strong rise in recent years. Between 2004 and 2007, the average price is ₦ 666,667. There was a significant inflation of the average price in 2004 (₦ 466,667) moving up till (₦ 866,667)in 2007. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -16 % compared to the previous period. During the last two years, the car industry has had a strong deflation in its selling prices of -19 % 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 (₦ 467,916.75) and the the last two years (2011, 2013) with a price of ₦ 377,500.
The graph that displays the price for Mercedes Benz CLK 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 7 % more affordable than the average price (₦ 456,500). Next with a price of ₦ 1,393,333 and a mileage range of "more than 200,000" we would see the following vehicles. The mileage range for the most expensive cars is "more than 200,000". It is 205% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 425,000.