Toyota Mark X 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 Mark X cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 523,750. During November the price went trough a strong deflation till ₦ 436,216. The following two months (December, January) the selling price went through a devaluation of -13 percent in the average selling price compared to the previous two months analyzed. In the last two, the price has gone through a -10 % devaluation compared to the previous average values going down from ₦ 449,366.5 to ₦ 404,784.5 during February and March.
The average price for Toyota Mark X has become more expensive in recent years. During 2008 and 2008, the average price was ₦ 625,000. During this period, prices pretty much remained constant. During the following two years, cars belonging to the brand aforementioned had a strong deflation in their selling price of -26 % compared to the previous period. During the last two years, prices in the car industry have gone through a strong rise of 35 % 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 (₦ 705,312.5) and the the last two years that have been analyzed (2011, 2013) with a price of ₦ 951,250.
The graph that displays the price for Toyota Mark X cars according to their mileage shows that those cars within a mileage range of "less than 10,000" are the ones with the lowest price. They are 6 % more affordable than the average price (₦ 402,069). Next with a price of ₦ 400,000 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "10,000 - 25,000". It is 33% more costly than the average market value followed by those vehicles with a mileage of "25,000 - 50,000" and a price of ₦ 416,667.