Toyota Fortuner 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 Fortuner cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 1,861,639. During November the price went trough a strong deflation till ₦ 1,295,000. The following two months the selling price went through a strong reduction of -30 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -67 % compared to the 4 previous average values going down from ₦ 1,341,561 to ₦ 447,003.5.
The average price for Toyota Fortuner has gone through a significant depreciation in recent years. During the first sample analyzed, going from 2006 to 2008, the average price was ₦ 826,666.5. Please take note of of the significant depreciation in the prices between 2006 (₦ 1,200,000) and 2008 (₦ 453,333). During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -44 % compared to the previous period. During the last two years, prices in the car industry have experienced a depreciation of -6 % 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 (₦ 438,333.25) and the the last two years analyzed (2012, 2013) with a price of ₦ 410,000.
The graph that displays the price for Toyota Fortuner 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 13 % more affordable than the average price (₦ 438,846). Next with a price of ₦ 381,818 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 97% more costly than the average market value followed by those vehicles with a mileage of "10,000 - 25,000" and a price of ₦ 750,000.