Mercedes Benz G-Class 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 G-Class cars has had a strong depreciation during the last 6 months we have studied. In December the average price per vehicle is ₦ 32,006,250. During January the price went trough a strong deflation till ₦ 20,900,818. The following two months the selling price went through a strong reduction of -40 % compared to the previous two months studied. The average price has had spectacular rise of 19 % with an average price of ₦ 21,107,016 during the previous 4 months and ₦ 25,184,446 during the most recent months in April and May.
The average price for Mercedes Benz G-Class has had a strong rise in recent years. Between 2001 and 2015, the average price is ₦ 17,244,458. There was a significant inflation of the average price in 2001 (₦ 5,866,667) moving up till (₦ 38,000,000)in 2015. During the next two years (2016, 2017) the price for the aforementioned model has gone up strongly a 155 %. 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 (₦ 39,104,168) and the the last two years analyzed (2019, 2020) with a price of ₦ 34,250,000.
The graph that displays the price for Mercedes Benz G-Class cars according to their mileage shows that those cars within a mileage range of "100,000 - 200,000" are the ones with the lowest price. They are 71 % more affordable than the average price (₦ 38,943,750). Next with a price of ₦ 17,508,333 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most affordable cars is "10,000 - 25,000". It is 13% less expensive than the average market value followed by those cars with a mileage of "25,000 - 50,000" priced at ₦ 30,536,585.