Toyota Matrix 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 Matrix cars has had a strong depreciation during the last 6 months we have studied. The average price for October is ₦ 6,330,500. During November there was a slight reduction in the selling prices dropping till ₦ 5,956,625. The following two months the selling price went through a strong reduction of -41 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -66 % compared to the 4 previous average values going down from ₦ 4,886,397 to ₦ 1,659,137.5.
The average price for Toyota Matrix has gone down in recent years. During the first sample analyzed, going from 2003 to 2010, the average price was ₦ 790,707.62. Please take note of of the significant depreciation in the prices between 2003 (₦ 721,957) and 2010 (₦ 581,250). 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 the price has remained constant with regard to the previous 4 years, going from an average price of ₦ 423,339.5 in 2013 and ₦ 406,111 during 2014.
The graph that displays the price for Toyota Matrix 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 67 % more affordable than the average price (₦ 1,426,731). Next with a price of ₦ 496,923 and a mileage range of "10,000 - 25,000" we would see the following vehicles. The mileage range for the most expensive cars is "100,000 - 200,000". It is 139% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 2,548,063.