Mercedes Benz S Class 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 S Class cars have gone through a strong rise during the last 6 months. During the first month analyzed in March the average price was ₦ 4,409,363. April went through a strong inflation with a rise in the price till ₦ 6,961,364. During the following two months (May, June) the average selling price experienced a noticeable rise, going up 25 % from ₦ 5,685,363.5 to ₦ 7,130,854.5. The average price has had spectacular rise of 16 % with an average price of ₦ 6,408,109 during the previous 4 months and ₦ 7,457,793 during the most recent months in July and August.
The average price for Mercedes Benz S Class has become more expensive in recent years. Between 2007 y 2009, the average price is ₦ 7,999,106.5. There was a price inflation going from (₦ 8,268,750) to (₦ 9,075,000). During the next two years (2010, 2011) the price for the aforementioned model has gone up strongly a 36 %. 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 (₦ 9,723,333) and the the last two years analyzed (2012, 2013) with a price of ₦ 8,591,666.
The graph that displays the price for Mercedes Benz S 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 20 % more affordable than the average price (₦ 7,958,586). Next with a price of ₦ 7,111,056 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "50,000 - 100,000". It is 11% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 7,111,056.