Toyota HiAce 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 HiAce cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 16,654,125. During November there was a slight reduction in the selling prices dropping till ₦ 15,556,000. The following two months the selling price went through a strong reduction of -45 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -77 % compared to the 4 previous average values going down from ₦ 12,461,000 to ₦ 2,923,281.5.
The average price for Toyota HiAce has gone down in recent years. Between "before 2000" and 2010, the average price is ₦ 949,920.25. There was a significant inflation of the average price in "before 2000" (₦ 1,341,667) moving up till (₦ 1,755,200)in 2010. During the next two years (2011, 2012) the price for the aforementioned model has gone up strongly a 78 %. During the last two years, prices in the car industry have gone through a strong rise of 18 % 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 (₦ 2,060,854) and the the last two years that have been analyzed (2013, 2014) with a price of ₦ 2,432,143.
The graph that displays the price for Toyota HiAce 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 78 % more affordable than the average price (₦ 3,379,063). Next with a price of ₦ 1,097,778 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most affordable cars is "less than 10,000". It is 10% less expensive than the average market value followed by those cars with a mileage of "more than 200,000" priced at ₦ 3,014,286.
The graph showing the average price for the fuel type for Toyota HiAce cars points out to "Diesel" as being the cheapest fuel type. It is 28 % less expensive than the average market price (₦ 3,379,063) followed by "Petrol" priced at ₦ 3,164,074. On average the cheapest type of fuel is "Petrol". It´s price is 6 % more affordable than the average market value followed by "Diesel" with a price of ₦ 2,431,250.