Mercedes Benz E350 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 E350 cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 14,657,987. During November there was a slight reduction in the selling prices dropping till ₦ 13,456,862. The following two months the selling price went through a strong reduction of -48 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -87 % compared to the 4 previous average values going down from ₦ 10,684,461 to ₦ 1,345,569.5.
The average price for Mercedes Benz E350 has had a strong rise in recent years. Between 2006 and 2008, the average price is ₦ 1,955,340.62. There was a significant inflation of the average price in 2006 (₦ 1,267,000) moving up till (₦ 2,349,022)in 2008. Cars belonging to the model aforementioned had a price deflation of -8 percent in the next two years (2009, 2010) compared to the previous two years. During the last two years, the car industry has had a strong deflation in its selling prices of -29 % 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 (₦ 1,397,390.75) and the the last two years (2011, 2012) with a price of ₦ 987,750.
The graph that displays the price for Mercedes Benz E350 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 50 % more affordable than the average price (₦ 1,484,961). Next with a price of ₦ 755,000 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 288% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 4,993,833.