Toyota Camry 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 Camry cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₦ 19,098,125. This price hardly went through any changes and remained at ₦ 18,358,250 during November. The following two months the selling price went through a strong reduction of -37 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -59 % compared to the 4 previous average values going down from ₦ 15,221,588 to ₦ 6,240,331.
The average price for Toyota Camry has had a strong rise in recent years. Between "before 2000" and 2017, the average price is ₦ 1,733,521.25. There was a significant inflation of the average price in "before 2000" (₦ 622,750) moving up till (₦ 800,000)in 2017. During the next two years (2018, 2019) the price for the aforementioned model has gone up strongly a 288 %. During the last two years, the car industry has had a strong deflation in its selling prices of -19 % 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 (₦ 5,629,167) and the the last two years (2020, 2022) with a price of ₦ 4,533,333.5.
The graph that displays the price for Toyota Camry 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 82 % more affordable than the average price (₦ 6,201,067). Next with a price of ₦ 1,160,854 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most affordable cars is "less than 10,000". It is 26% less expensive than the average market value followed by those cars with a mileage of "more than 200,000" priced at ₦ 4,083,944.
The graph showing the average price for the fuel type for Toyota Camry cars points out to "Diesel" as being the cheapest fuel type. It is 81 % less expensive than the average market price (₦ 6,201,067) followed by "Hybrid" priced at ₦ 4,808,672. On average the cheapest type of fuel is "Petrol". It´s price is 2 % more affordable than the average market value followed by "Hybrid" with a price of ₦ 4,808,672.