Mercedes Benz ML350 Vehicles have gone through a strong increase in their selling price recently. There has been a considerable inflation in the selling prices for this model.
The retail prices for Mercedes Benz ML350 cars have gone through a strong rise during the last 6 months. During the first month analyzed in May the average price was ₦ 1,991,250. June went through a strong inflation with a rise in the price till ₦ 4,566,667. During the following two months (July, August) the average selling price experienced a noticeable rise, going up 20 % from ₦ 3,278,958.5 to ₦ 3,921,500. In the last two months, the price has gone through a strong devaluation of -73 % compared to the 4 previous average values going down from ₦ 3,600,229.25 to ₦ 971,750.
The average price for Mercedes Benz ML350 has had a strong rise in recent years. During the first sample analyzed (2005 - 2010), the average selling price stood at ₦ 1,141,037. During this time, the price for 2005 which was ₦ 766,667 decreased to ₦ 686,000 during 2010. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -44 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 58 % 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 (₦ 1,523,879.25) and the the last two years that have been analyzed (2013, 2014) with a price of ₦ 2,409,375.
The graph that displays the price for Mercedes Benz ML350 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 (₦ 971,750). Next with a price of ₦ 520,000 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 301% more costly than the average market value followed by those vehicles with a mileage of "50,000 - 100,000" and a price of ₦ 1,861,111.