Toyota Scion 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 Scion cars has had a strong depreciation during the last 6 months we have studied. The average price for May is ₦ 2,379,310. During June there was a slight reduction in the selling prices dropping till ₦ 2,110,811. The following two months the selling price went through a strong reduction of -21 % compared to the previous two months studied. In the last two, the price has gone through a -6 % devaluation compared to the previous average values going down from ₦ 2,011,931.5 to ₦ 1,895,214.5 during September and October.
The average price for Toyota Scion has had a strong rise in recent years. During the first sample analyzed (2005 - 2007), the average selling price stood at ₦ 1,439,500. During this time, the price for 2005 which was ₦ 1,512,500 decreased to ₦ 1,312,000 during 2007. During the next two years (2008, 2009) the price for the aforementioned model has gone up strongly a 27 %. 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 (₦ 2,822,291.75) and the the last two years that have been analyzed (2010, 2016) with a price of ₦ 3,810,833.5.
The graph that displays the price for Toyota Scion 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 16 % more affordable than the average price (₦ 1,897,000). Next with a price of ₦ 1,757,692 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "25,000 - 50,000". It is 153% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 1,905,385.