Predictive Modeling Approach to Determine the prices of the used vehicles in Sri Lanka

Abstract

"Vehicle industry is in a stage where most of the dealers have run out of business. With covid coming through and foreign reserves going low, the government decided to stop importing vehicles. This issue led to stage where the remainder of vehicles’ prices have started sky rocketing. This issue has come to a crucial stage where most of the people are trying to sell their own vehicles and others have given up on the hope of buying vehicles. The problem led to conducting this study was to identify a method to predict the prices of the vehicles to make the prices standardized. Then the main aims would be to identify the variables that would determine the price along with gathering a dataset before the price hike. This study would enable the opportunity to determine the most appropriate predictive modeling technique to determine the prices of a used vehicle "