Volkswagen Beetle 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 Volkswagen Beetle cars has had a strong depreciation during the last 6 months we have studied. In October the price for a car is ₦ 1,174,590 increasing till ₦ 1,277,814 in November. The following two months the selling price went through a strong reduction of -20 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -54 % compared to the 4 previous average values going down from ₦ 1,103,867.25 to ₦ 507,140.
The average price for Volkswagen Beetle has had a strong rise in recent years. During the first sample analyzed, going from "before 2000" to 2009, the average price was ₦ 394,166.5. Please take note of of the significant depreciation in the prices between "before 2000" (₦ 463,333) and 2009 (₦ 325,000). During the next two years (2010, 2011) the price for the aforementioned model has gone up strongly a 132 %. During the last two years, the car industry has had a strong deflation in its selling prices of -29 % 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 (₦ 707,750) and the the last two years (2012, 2013) with a price of ₦ 503,000.
The graph that displays the price for Volkswagen Beetle 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 9 % more affordable than the average price (₦ 384,375). Next with a price of ₦ 410,000 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most expensive cars is "50,000 - 100,000". It is 7% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₦ 350,000.