Toyota Avanza 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 Toyota Avanza cars have gone through a strong rise during the last 6 months. During the first month analyzed in December the average price was ₦ 1,274,523. January went through a strong inflation with a rise in the price till ₦ 3,753,214. During the following two months (February, March) the average selling price rose somewhat going from ₦ 2,513,868.5 to ₦ 2,840,074.5. During the last couple of months, the average price has hardly changed, remaining the same going from ₦ 2,676,971.5 to ₦ 2,775,872 during April and May.
The average price for Toyota Avanza has had a strong rise in recent years. Between 2005 and 2009, the average price is ₦ 1,460,000. There was a significant inflation of the average price in 2005 (₦ 715,000) moving up till (₦ 2,375,000)in 2009. During the next two years (2010, 2011) the price for the aforementioned model has gone up strongly a 174 %. During the last two years, prices in the car industry have experienced a depreciation of -5 % 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 (₦ 3,808,367) and the the last two years analyzed (2012, 2016) with a price of ₦ 3,615,625.
The graph that displays the price for Toyota Avanza cars according to their mileage shows that those cars within a mileage range of "10,000 - 25,000" are the ones with the lowest price. They are 59 % more affordable than the average price (₦ 2,940,000). Next with a price of ₦ 2,401,667 and a mileage range of "more than 200,000" we would see the following vehicles. The mileage range for the most expensive cars is "25,000 - 50,000". It is 27% more costly than the average market value followed by those vehicles with a mileage of "100,000 - 200,000" and a price of ₦ 3,606,250.