Volkswagen Passat 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 Passat cars has had a strong depreciation during the last 6 months we have studied. In October the average price per vehicle is ₦ 3,996,125. During November the price went trough a strong deflation till ₦ 3,209,750. The following two months the selling price went through a strong reduction of -57 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -74 % compared to the 4 previous average values going down from ₦ 2,572,445.5 to ₦ 677,938.
The average price for Volkswagen Passat has had a strong rise in recent years. Between "before 2000" and 2010, the average price is ₦ 840,765. There was a significant inflation of the average price in "before 2000" (₦ 809,167) moving up till (₦ 1,507,448)in 2010. During the next two years (2011, 2012) 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 17 % 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 (₦ 1,284,340.25) and the the last two years that have been analyzed (2013, 2014) with a price of ₦ 1,497,708.5.
The graph that displays the price for Volkswagen Passat 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 38 % more affordable than the average price (₦ 676,819). Next with a price of ₦ 445,714 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 326% more costly than the average market value followed by those vehicles with a mileage of "more than 200,000" and a price of ₦ 2,392,083.