Mercedes Benz E320 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 E320 cars has had a strong depreciation during the last 6 months we have studied. In October the price for a car is ₦ 1,053,699 increasing till ₦ 1,144,545 in November. The following two months the selling price went through a strong reduction of -28 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -50 % compared to the 4 previous average values going down from ₦ 943,353.25 to ₦ 474,015.
The average price for Mercedes Benz E320 has gone through a significant depreciation in recent years. Between 2003 and 2005, the average price is ₦ 1,033,472.31. There was a significant inflation of the average price in 2003 (₦ 1,195,000) moving up till (₦ 1,563,750)in 2005. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -70 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 24 % compared to the average values for the previous 4 years. This was taken from studying the prices for the the preceding four years in previous sample (₦ 403,125) and the the last two years that have been analyzed (2010, 2011) with a price of ₦ 500,000.
The graph that displays the price for Mercedes Benz E320 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 12 % more affordable than the average price (₦ 435,000). Next with a price of ₦ 384,375 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 530% more costly than the average market value followed by those vehicles with a mileage of "50,000 - 100,000" and a price of ₦ 533,333.