Abstract:
The used car market is an ever-rising industry, which has almost doubled its market
value in the last few years. The emergence of online portals such as, OLX and
Pakwheels and many others has facilitated the need for both the customer and the
seller to be better informed about the trends and patterns that determine the value of
the used car in the market. Machine Learning algorithms can be used to predict the
retail value of a car. based on a certain set of features. Automated vehicle
recognition and price prediction are two interesting problems encountered within
the automotive industry. The ability to accurately identify a vehicle within an image
is extremely useful in many areas including intelligent transport systems and
autonomous driving. The main objective of this project is to use three different
prediction models to predict the retail price of a used car and compare their levels of
accuracy. The data set will be used for the prediction models will be collect from
experienced car dealers.
