Toyota 4 runner 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 Toyota 4 runner cars has had a strong depreciation during the last 6 months we have studied. The average price for November is ₦ 15,991,625. During December there was a slight reduction in the selling prices dropping till ₦ 14,996,625. The following two months the selling price went through a strong reduction of -89 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -78 % compared to the 4 previous average values going down from ₦ 8,597,306 to ₦ 1,858,902.
The average price for Toyota 4 runner has gone down in recent years. During the first sample analyzed, going from 2003 to 2008, the average price was ₦ 2,233,020.75. Please take note of of the significant depreciation in the prices between 2003 (₦ 2,610,000) and 2008 (₦ 1,200,000). During the next two years (2010, 2011) the price for the aforementioned model has gone up strongly a 64 %. During the last two years, the car industry has had a strong deflation in its selling prices of -36 % 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 (₦ 2,689,583.25) and the the last two years (2012, 2013) with a price of ₦ 1,712,500.
The graph that displays the price for Toyota 4 runner cars according to their mileage shows that those cars within a mileage range of "25,000 - 50,000" are the ones with the lowest price. They are 84 % more affordable than the average price (₦ 1,959,911). Next with a price of ₦ 2,122,041 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "less than 10,000". It is 8% more costly than the average market value followed by those vehicles with a mileage of "25,000 - 50,000" and a price of ₦ 310,000.