Price for Mercedes Benz GLK

The selling price for Mercedes Benz GLK cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 15,639,375. This price hardly went through any changes and remained at ₦ 15,376,875 during November. The following two months the selling price went through a strong reduction of -35 % 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 ₦ 12,831,564 to ₦ 5,048,891.

The average price for Mercedes Benz GLK has gone down in recent years. Between 2010 and 2011, the average price is ₦ 6,400,000. There was a significant inflation of the average price in 2010 (₦ 5,900,000) moving up till (₦ 6,900,000)in 2011. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -17 % compared to the previous period. During the last two years, the car industry has had a strong deflation in its selling prices of -18 % 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 (₦ 4,546,250) and the the last two years (2014, 2015) with a price of ₦ 3,750,000.

The graph that displays the price for Mercedes Benz GLK 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 59 % more affordable than the average price (₦ 4,892,647). Next with a price of ₦ 2,500,000 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "less than 10,000". It is 7% more costly than the average market value followed by those vehicles with a mileage of "10,000 - 25,000" and a price of ₦ 3,500,000.