Toyota Vios 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 Vios cars has had a strong depreciation during the last 6 months we have studied. In January the average price per vehicle is ₦ 1,570,000. During February the price went trough a strong deflation till . The following two months the selling price went through a strong reduction of -43 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -22 % compared to the 4 previous average values going down from ₦ 618,171.25 to ₦ 482,045.5.
The average price for Toyota Vios has had a strong rise in recent years. Between 2002 and 2009, the average price is ₦ 570,935.44. There was a significant inflation of the average price in 2002 (₦ 360,000) moving up till (₦ 750,000)in 2009. During the next two years (2010, 2011) the price for the aforementioned model has gone up strongly a 29 %. During the last two years, the car industry has had a strong deflation in its selling prices of -19 % 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 (₦ 620,312.5) and the the last two years (2012, 2013) with a price of ₦ 501,875.
The graph that displays the price for Toyota Vios 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 14 % more affordable than the average price (₦ 475,000). Next with a price of ₦ 431,818 and a mileage range of "less than 10,000" we would see the following vehicles. The mileage range for the most expensive cars is "10,000 - 25,000". It is 132% more costly than the average market value followed by those vehicles with a mileage of "100,000 - 200,000" and a price of ₦ 885,000.