Toyota Hilux 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 Hilux cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 15,935,725. During November there was a slight reduction in the selling prices dropping till ₦ 14,885,725. 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 -84 % compared to the 4 previous average values going down from ₦ 11,930,075 to ₦ 1,910,188.
The average price for Toyota Hilux has had a strong rise in recent years. Between "before 2000" and 2013, the average price is ₦ 1,159,573.25. There was a significant inflation of the average price in "before 2000" (₦ 700,000) moving up till (₦ 1,416,667)in 2013. During the next two years (2014, 2016) the price for the aforementioned model has gone up strongly a 372 %. During the last two years, the car industry has had a strong deflation in its selling prices of -20 % 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 (₦ 4,559,620) and the the last two years (2020, 2022) with a price of ₦ 3,650,000.
The graph that displays the price for Toyota Hilux cars according to their mileage shows that those cars within a mileage range of "more than 200,000" are the ones with the lowest price. They are 77 % more affordable than the average price (₦ 1,516,463). Next with a price of ₦ 562,500 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 297% more costly than the average market value followed by those vehicles with a mileage of "10,000 - 25,000" and a price of ₦ 2,175,000.
"Petrol" priced at ₦ 5,260,333 is the most expensive fuel type when taking into account the average fuel price for Toyota Hilux cars. It is is 247 % dearer than the average selling price (!PRECIO2!). "Petrol" is the most expensive type of fuel and it is 247 % more costly than the average market value previously analyzed.