Chery 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 Chery cars has had a strong depreciation during the last 6 months we have studied. The average price in October was of ₱ 905,294. This price hardly went through any changes and remained at ₱ 896,154 during November. The following two months the selling price went through a strong reduction of -26 % compared to the previous two months studied. In the last two months, the price has gone through a strong devaluation of -30 % compared to the 4 previous average values going down from ₱ 781,953 to ₱ 544,790.5.
The average price for Chery has had a strong rise in recent years. During the first sample analyzed, going from 2008 to 2009, the average price was ₱ 123,389. Please take note of of the significant depreciation in the prices between 2008 (₱ 137,778) and 2009 (₱ 109,000). During the next two years (2020, 2021) the price for the aforementioned model has gone up strongly a 466 %. During the last two years, prices in the car industry have gone through a strong rise of 24 % 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 (₱ 921,625) and the the last two years that have been analyzed (2022, 2023) with a price of ₱ 1,144,333.5.
The graph that displays the price for Chery cars according to their mileage shows that those cars within a mileage range of "50,000 - 100,000" are the ones with the lowest price. They are 65 % more affordable than the average price (₱ 515,036). Next with a price of ₱ 414,500 and a mileage range of "25,000 - 50,000" we would see the following vehicles. The mileage range for the most expensive cars is "10,000 - 25,000". It is 48% more costly than the average market value followed by those vehicles with a mileage of "less than 10,000" and a price of ₱ 530,809.
The graph showing the average price for the fuel type for Chery cars points out to "Diesel" as being the cheapest fuel type. It is 83 % less expensive than the average market price (₱ 515,036) followed by "Gasoline" priced at ₱ 121,733. On average the cheapest type of fuel is "Gasoline". It´s price is 76 % more affordable than the average market value followed by "Diesel" with a price of ₱ 88,571.