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 ₱ 505,487. During August there was a slight reduction in the selling prices dropping till ₱ 437,499. 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 ₱ 424,400.25 to ₱ 348,464.5.
The average price for Kia Rio has had a strong rise in recent years. Between 2009 and 2013, the average price is ₱ 296,943.59. There was a significant inflation of the average price in 2009 (₱ 327,500) moving up till (₱ 418,250)in 2013. During the next two years (2014, 2015) the price for the aforementioned model has gone up strongly a 70 %. During the last two years, prices in the car industry have experienced a depreciation of -8 % compared to the average prices for the previous 4 years. This has been obtained from prices from the the previous four years in a previous sample (₱ 468,211) and the the last two years analyzed (2016, 2017) with a price of ₱ 432,750.
The graph that displays the price for Kia Rio 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 40 % more affordable than the average price (₱ 349,767). Next with a price of ₱ 219,000 and a mileage range of "100,000 - 200,000" we would see the following vehicles. The mileage range for the most expensive cars is "10,000 - 25,000". It is 21% more costly than the average market value followed by those vehicles with a mileage of "25,000 - 50,000" and a price of ₱ 410,000.
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 24 % less expensive than the average market price (₱ 349,767) followed by "Gasoline" priced at ₱ 372,875. On average the most expensive type of fuel is "Gasoline". It´s price is 7 % higher than the average market price followed by "Diesel" which costs ₱ 264,600.