IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i2p911-d1024613.html
   My bibliography  Save this article

Are Used Cars More Sustainable? Price Prediction Based on Linear Regression

Author

Listed:
  • A’aeshah Alhakamy

    (Department of Information Technology, Faculty of Computers and Information Technology, University of Tabuk, Tabuk 47512, Saudi Arabia
    Researcher at Artificial Intelligence and Sensing Technologies (AIST) Research Center, University of Tabuk, Tabuk 47512, Saudi Arabia)

  • Areej Alhowaity

    (Master of Artificial Intelligence, Department of Computer Science, Faculty of Computers and Information Technology, University of Tabuk, Tabuk 47512, Saudi Arabia)

  • Anwar Abdullah Alatawi

    (Master of Artificial Intelligence, Department of Computer Science, Faculty of Computers and Information Technology, University of Tabuk, Tabuk 47512, Saudi Arabia)

  • Hadeel Alsaadi

    (Master of Artificial Intelligence, Department of Computer Science, Faculty of Computers and Information Technology, University of Tabuk, Tabuk 47512, Saudi Arabia)

Abstract

Currently, owning a car is a necessity, as it plays a significant role in human transportation for different purposes such as going to work and to the hospital. However, with the current economic challenges, buying expensive cars can be a burden. The car market has shifted toward more affordable used cars. Due to the increasing number of used cars being sold, the price of used cars has become a major issue that could affect our sustainable way of living. The objective of this research is to understand the impact of the problem and to find empirical solutions by implementing a variety of machine learning techniques and big data tools on the prices of used cars. Thus, we develop a linear regression model that can estimate used car prices based on various features to answer the following research questions: (R.Q.1) How significantly does an independent feature in the dataset affect the dependent variable (car price)? (R.Q.2) Is a linear regression model effective for prediction of used car prices? (R.Q.3) How does prediction of used car prices support sustainability? Finally, we present our results in the form of answers to these questions, including some limitations and future research.

Suggested Citation

  • A’aeshah Alhakamy & Areej Alhowaity & Anwar Abdullah Alatawi & Hadeel Alsaadi, 2023. "Are Used Cars More Sustainable? Price Prediction Based on Linear Regression," Sustainability, MDPI, vol. 15(2), pages 1-17, January.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:2:p:911-:d:1024613
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/2/911/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/2/911/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Marrouch, Walid & Mourad, Jana, 2019. "Effect of gasoline prices on car fuel efficiency: Evidence from Lebanon," Energy Policy, Elsevier, vol. 135(C).
    2. Mulley, Corinne & Ho, Chinh & Balbontin, Camila & Hensher, David & Stevens, Larissa & Nelson, John D. & Wright, Steve, 2020. "Mobility as a service in community transport in Australia: Can it provide a sustainable future?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 131(C), pages 107-122.
    3. V. Sathiya & M. Chinnadurai & S. Ramabalan & Andrea Appolloni, 2021. "Mobile robots and evolutionary optimization algorithms for green supply chain management in a used-car resale company," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(6), pages 9110-9138, June.
    4. Ziying Yang & Manping Tang, 2019. "Welfare Analysis of Government Subsidy Programs for Fuel-Efficient Vehicles and New Energy Vehicles in China," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(2), pages 911-937, October.
    5. Florinda Martins & Carlos Felgueiras & Miroslava Smitkova & Nídia Caetano, 2019. "Analysis of Fossil Fuel Energy Consumption and Environmental Impacts in European Countries," Energies, MDPI, vol. 12(6), pages 1-11, March.
    6. Alexandre Beaudet & François Larouche & Kamyab Amouzegar & Patrick Bouchard & Karim Zaghib, 2020. "Key Challenges and Opportunities for Recycling Electric Vehicle Battery Materials," Sustainability, MDPI, vol. 12(14), pages 1-12, July.
    7. Itai Ater & Nir S. Yoseph, 2022. "The Impact of Environmental Fraud on the Used Car Market: Evidence from Dieselgate," Journal of Industrial Economics, Wiley Blackwell, vol. 70(2), pages 463-491, June.
    8. Pavlovic, Jelica & Marotta, Alessandro & Ciuffo, Biagio, 2016. "CO2 emissions and energy demands of vehicles tested under the NEDC and the new WLTP type approval test procedures," Applied Energy, Elsevier, vol. 177(C), pages 661-670.
    9. Wang, Shanyong & Wang, Jing & Li, Jun & Wang, Jinpeng & Liang, Liang, 2018. "Policy implications for promoting the adoption of electric vehicles: Do consumer’s knowledge, perceived risk and financial incentive policy matter?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 117(C), pages 58-69.
    10. Enci Liu & Jie Li & Anni Zheng & Haoran Liu & Tao Jiang, 2022. "Research on the Prediction Model of the Used Car Price in View of the PSO-GRA-BP Neural Network," Sustainability, MDPI, vol. 14(15), pages 1-19, July.
    11. Carlos Bueno-Suárez & Daniel Coq-Huelva, 2020. "Sustaining What Is Unsustainable: A Review of Urban Sprawl and Urban Socio-Environmental Policies in North America and Western Europe," Sustainability, MDPI, vol. 12(11), pages 1-36, May.
    12. Tatyana Khudyakova & Andrey Shmidt & Svetlana Shmidt, 2020. "Sustainable development of smart cities in the context of the implementation of the tire recycling program," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 698-715, December.
    13. Kamilė Petrauskienė & Arvydas Galinis & Daina Kliaugaitė & Jolanta Dvarionienė, 2021. "Comparative Environmental Life Cycle and Cost Assessment of Electric, Hybrid, and Conventional Vehicles in Lithuania," Sustainability, MDPI, vol. 13(2), pages 1-17, January.
    14. Peter Glavič, 2021. "Evolution and Current Challenges of Sustainable Consumption and Production," Sustainability, MDPI, vol. 13(16), pages 1-24, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nenming Wang & Guwen Tang, 2022. "A Review on Environmental Efficiency Evaluation of New Energy Vehicles Using Life Cycle Analysis," Sustainability, MDPI, vol. 14(6), pages 1-35, March.
    2. Suchi Kapoor Malhotra & Howard White & Nina Ashley O. Dela Cruz & Ashrita Saran & John Eyers & Denny John & Ella Beveridge & Nina Blöndal, 2021. "Studies of the effectiveness of transport sector interventions in low‐ and middle‐income countries: An evidence and gap map," Campbell Systematic Reviews, John Wiley & Sons, vol. 17(4), December.
    3. Anni Orola & Anna Härri & Jarkko Levänen & Ville Uusitalo & Stig Irving Olsen, 2022. "Assessing WELBY Social Life Cycle Assessment Approach through Cobalt Mining Case Study," Sustainability, MDPI, vol. 14(18), pages 1-26, September.
    4. Jānis Krūmiņš & Māris Kļaviņš, 2023. "Investigating the Potential of Nuclear Energy in Achieving a Carbon-Free Energy Future," Energies, MDPI, vol. 16(9), pages 1-31, April.
    5. Hongxia Sun & Yao Wan & Huirong Lv, 2020. "System Dynamics Model for the Evolutionary Behaviour of Government Enterprises and Consumers in China’s New Energy Vehicle Market," Sustainability, MDPI, vol. 12(4), pages 1-21, February.
    6. Katarzyna Chudy-Laskowska & Tomasz Pisula, 2022. "An Analysis of the Use of Energy from Conventional Fossil Fuels and Green Renewable Energy in the Context of the European Union’s Planned Energy Transformation," Energies, MDPI, vol. 15(19), pages 1-23, October.
    7. Jungmin An & Dong-Kwan Kim & Jinyeong Lee & Sung-Kwan Joo, 2021. "Least Squares Monte Carlo Simulation-Based Decision-Making Method for Photovoltaic Investment in Korea," Sustainability, MDPI, vol. 13(19), pages 1-14, September.
    8. Wang, Zhuowei & Yu, Jiangbo (Gabe) & Chen, Anthony & Fu, Xiaowen, 2024. "Subsidy policies towards zero-emission bus fleets: A systematic technical-economic analysis," Transport Policy, Elsevier, vol. 150(C), pages 1-13.
    9. Tariq Ullah & Krzysztof Sobczak & Grzegorz Liśkiewicz & Amjid Khan, 2022. "Two-Dimensional URANS Numerical Investigation of Critical Parameters on a Pitch Oscillating VAWT Airfoil under Dynamic Stall," Energies, MDPI, vol. 15(15), pages 1-19, August.
    10. Tuğba Yeğin & Muhammad Ikram, 2022. "Analysis of Consumers’ Electric Vehicle Purchase Intentions: An Expansion of the Theory of Planned Behavior," Sustainability, MDPI, vol. 14(19), pages 1-27, September.
    11. Zhao, Qin & Zhang, Houcheng & Hu, Ziyang & Hou, Shujin, 2021. "Performance evaluation of a new hybrid system consisting of a photovoltaic module and an absorption heat transformer for electricity production and heat upgrading," Energy, Elsevier, vol. 216(C).
    12. Cui, Yu & Khan, Sufyan Ullah & Li, Zhixue & Zhao, Minjuan, 2021. "Environmental effect, price subsidy and financial performance: Evidence from Chinese new energy enterprises," Energy Policy, Elsevier, vol. 149(C).
    13. Zhang, Wenqing & Liu, Liangliang, 2022. "Exploring non-users' intention to adopt ride-sharing services: Taking into account increased risks due to the COVID-19 pandemic among other factors," Transportation Research Part A: Policy and Practice, Elsevier, vol. 158(C), pages 180-195.
    14. Yueqi Mao & Qiang Mei & Peng Jing & Ye Zha & Ying Xue & Jiahui Huang & Danning Shao & Pan Luo, 2022. "Factors Affecting the Parental Intention of Using AVs to Escort Children: An Integrated SEM–Hybrid Choice Model Approach," Sustainability, MDPI, vol. 14(18), pages 1-21, September.
    15. Xinglong Liu & Fuquan Zhao & Han Hao & Kangda Chen & Zongwei Liu & Hassan Babiker & Amer Ahmad Amer, 2020. "From NEDC to WLTP: Effect on the Energy Consumption, NEV Credits, and Subsidies Policies of PHEV in the Chinese Market," Sustainability, MDPI, vol. 12(14), pages 1-19, July.
    16. Chun Yang & Jui-Che Tu & Qianling Jiang, 2020. "The Influential Factors of Consumers’ Sustainable Consumption: A Case on Electric Vehicles in China," Sustainability, MDPI, vol. 12(8), pages 1-16, April.
    17. He, Wentao & Hao, Xiaoli, 2023. "Competition and welfare effects of introducing new products into the new energy vehicle market: Empirical evidence from Tesla’s entry into the Chinese market," Transportation Research Part A: Policy and Practice, Elsevier, vol. 174(C).
    18. Karol Tucki & Małgorzata Krzywonos & Olga Orynycz & Adam Kupczyk & Anna Bączyk & Izabela Wielewska, 2021. "Analysis of the Possibility of Fulfilling the Paris Agreement by the Visegrad Group Countries," Sustainability, MDPI, vol. 13(16), pages 1-21, August.
    19. Tolgahan Kaya & Osman Akın Kutlar & Ozgur Oguz Taskiran, 2018. "Evaluation of the Effects of Biodiesel on Emissions and Performance by Comparing the Results of the New European Drive Cycle and Worldwide Harmonized Light Vehicles Test Cycle," Energies, MDPI, vol. 11(10), pages 1-14, October.
    20. Stergios Statharas & Yannis Moysoglou & Pelopidas Siskos & Pantelis Capros, 2021. "Simulating the Evolution of Business Models for Electricity Recharging Infrastructure Development by 2030: A Case Study for Greece," Energies, MDPI, vol. 14(9), pages 1-24, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:2:p:911-:d:1024613. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.