Data Mining Application for Used-Car Market Analysis
The 10th International Multi-Conference on Complexity, Informatics and Cybernetics (IMCIC 2019): Proceedings. Vol.1 2019
Valērijs Skribans, Scott W. HEGERTY

Used-car market monitoring was started in 2018, 03 January, when Federal Administrative Court in Leipzig (Germany) allowed cities and communes in Germany to impose bans for diesel cars in order to reduce the level of nitric oxide in the air. This decision can radically change used-car market in the EU, because Germany massive exports used cars to Estern Europe. The article analyses the influence of the Germany Court decision to the used-car market in Latvia, as part of the EU market. For the analyze was collected used-cars 258.6 th. offers for Latvian market and near 0.8 mil. for Germany. Based on collected data, the econometric model was developed. The model describe relation between price of the used cars and cars main characteristics. Main characteristic of the cars include 51 important elements as cars’ issue year, mileage and so on. Model describe 89% of market prices (adjusted R2=0,89). In the article is concluded, that in short-run export of used cars is profitable for both sides: for Germany and Eastern Europe. However, Eastern European countries do not pay enough attention to cars recycling. In the long run, this may lead to a request for financial assistance from the EU to solve environmental problems.


Keywords
Data Mining, Used-Car Market, Econometric Model, Diesel Gate, Transport, Export, Environmental Problems, Prices
Hyperlink
http://www.iiis.org/CDs2019/CD2019Spring/papers/ZA089OD.pdf

Skribans, V., Hegerty, S. Data Mining Application for Used-Car Market Analysis. In: The 10th International Multi-Conference on Complexity, Informatics and Cybernetics (IMCIC 2019): Proceedings. Vol.1, United States of America, Orlando, 12-15 March, 2019. Winter Garden: International Institute of Informatics and Systemics (IIIS), 2019, pp.35-40. ISBN 978-1-941763-96-4.

Publication language
English (en)
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