Mercedes Benz M 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 M Class cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 18,702,500. This price hardly went through any changes and remained at ₦ 18,475,625 during November. The following two months the selling price went through a strong reduction of -41 % compared to the previous two months studied. 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 ₦ 14,748,306 to ₦ 4,045,258.
The average price for Mercedes Benz M Class has had a strong rise in recent years. Between 2002 and 2010, the average price is ₦ 4,241,849.5. There was a significant inflation of the average price in 2002 (₦ 2,695,833) moving up till (₦ 4,528,000)in 2010. During the next two years (2011, 2012) the price for the aforementioned model has gone up strongly a 37 %. During the last two years the price has remained constant with regard to the previous 4 years, going from an average price of ₦ 5,931,250 in 2013 and ₦ 6,045,833.5 during 2015.
The graph that displays the price for Mercedes Benz M Class cars according to their mileage shows that those cars within a mileage range of "more than 200,000" are the ones with the lowest price. They are 11 % more affordable than the average price (₦ 4,474,753). Next with a price of ₦ 4,516,667 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 10% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 4,516,667.