Kia Rio 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 Kia Rio cars has had a strong depreciation during the last 6 months we have studied. The average price for July is ₱ 503,500. During August there was a slight reduction in the selling prices dropping till ₱ 477,600. 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 -18 % compared to the 4 previous average values going down from ₱ 442,434.5 to ₱ 363,249.5.
The average price for Kia Rio has had a strong rise in recent years. Between 2010 and 2014, the average price is ₱ 291,612.81. There was a significant inflation of the average price in 2010 (₱ 223,667) moving up till (₱ 444,750)in 2014. During the next two years (2015, 2016), the average price went up 15 % moving from !PRECIO1! to ₱ 334,791.5, During the last two years, prices in the car industry have gone through a strong rise of 34 % 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 (₱ 507,875) and the the last two years that have been analyzed (2018, 2019) with a price of ₱ 680,958.5.
The graph that displays the price for Kia Rio 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 38 % more affordable than the average price (₱ 370,986). Next with a price of ₱ 266,500 and a mileage range of "50,000 - 100,000" we would see the following vehicles. The mileage range for the most affordable cars is "less than 10,000". It is 2% less expensive than the average market value followed by those cars with a mileage of "10,000 - 25,000" priced at ₱ 352,000.
The graph showing the average price for the fuel type for Kia Rio cars points out to "Diesel" as being the cheapest fuel type. It is 48 % less expensive than the average market price (₱ 370,986) followed by "Gasoline" priced at ₱ 334,443. On average the cheapest type of fuel is "Gasoline". It´s price is 10 % more affordable than the average market value followed by "Diesel" with a price of ₱ 191,100.