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Analysis of the Influence of Second-Hand Car Condition on the Value of Second-Hand Car
- 1 Civil engineering, Central South University, Hunan, China
- 2 Rosedale Global High School, Anhui, China
- 3 School of Statistics, Capital University of Economics and Business, Beijing, China
* Author to whom correspondence should be addressed.
Abstract
In recent years, China's used car market has experienced significant growth, emerging as a vital channel for vehicle owners to both sell and purchase cars.The rise of used car trading platforms has significantly improved transaction efficiency. Researchers have found that exploring ways to enhance the resale value of used cars is of great significance for used car sales. Therefore, the theme of this paper is an analysis of the impact of vehicle condition on resale value based on the Dongchedi platform. The study utilizes a combination of research methods, beginning with the collection of multidimensional data from the Dongchedi platform, spanning from 2007 to 2023, with a sample size of 150 vehicles. Using Python's OLS regression analysis, it examines the extent to which various factors affect resale value. The study finds that factors such as "whether it is a new model," "whether it is being resold for the first time," and "whether it has leather seats" have a significant impact on resale value. Conversely, factors such as "fuel consumption per 100 kilometers," "whether the car is black or white," and "whether an inspection report is available" do not demonstrate a statistically significant impact on resale value. This findings offer references for merchants and platforms in optimizing the pricing of used cars and the information display strategies of user interfaces.
Keywords
Used Car Market, Resale Value, OLS Regression Analysis
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Cite this article
Feng,Y.;Qin,X.;Zhi,Z. (2025). Analysis of the Influence of Second-Hand Car Condition on the Value of Second-Hand Car. Advances in Economics, Management and Political Sciences,168,28-35.
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Volume title: Proceedings of the 4th International Conference on Business and Policy Studies
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