Mini Cooper 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 Mini Cooper cars has had a strong depreciation during the last 6 months we have studied. The average price in November was of ₦ 4,040,484. This price hardly went through any changes and remained at ₦ 4,042,642 during December. The following two months the selling price went through a strong reduction of -75 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -72 % compared to the 4 previous average values going down from ₦ 2,527,827 to ₦ 698,837.
The average price for Mini Cooper has had a strong rise in recent years. During "before 2000" and "before 2000", the average price was ₦ 300,000. During this period, prices pretty much remained constant. During the next two years (2000, 2007) the price for the aforementioned model has gone up strongly a 117 %. During the last two years, prices in the car industry have gone through a strong rise of 44 % 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 (₦ 1,157,500) and the the last two years that have been analyzed (2010, 2011) with a price of ₦ 1,665,000.
The graph that displays the price for Mini Cooper cars according to their mileage shows that those cars within a mileage range of "50,000 - 100,000" are the ones with the lowest price. They are 49 % more affordable than the average price (₦ 725,500). Next with a price of ₦ 816,667 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "10,000 - 25,000". It is 139% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 904,167.