uchechukwueze/-Predicting-Used-Car-Prices-in-Nigeria-s-Automotive-Market

This project explores the Nigerian used-car market, where subjective pricing and limited market transparency make it difficult for buyers, sellers, and dealerships to determine fair and competitive vehicle prices.. # Predicting-Used-Car-Prices-in-Nigeria-s-Automotive-Market This project explores the Nigerian used-car market, where subjective pricing and limited market transparency make it difficult for buyers, sellers, and dealerships to determine fair and competitive vehicle prices. ##### Business Overview The Nigerian used-car market is largely **opaque and inefficient**, with vehicle prices often set subjectively based on seller perception, negotiation power, or incomplete market information. This lack of pricing transparency leads to several challenges: buyers struggle to know whether a car is fairly priced, sellers risk underpricing or overpricing their vehicles, and dealerships face difficulties maintaining consistent and competitive pricing strategies. As online automobile marketplaces and dealerships expand in Nigeria, there is a growing need for a **data-driven pricing tool** that can estimate the fair market value of a vehicle based on its characteristics,such as brand, model, year of manufacture, mileage, fuel type, transmission, and condition. The business problem, therefore, is: > **How can we accurately predict the market price of cars in Nigeria using historical vehicle data to support better pricing decisions for buyers, sellers, and dealerships?** Solving this problem would enable: * Sellers to set competitive and realistic asking prices * Buyers to make informed purchasing decisions and avoid overpaying * Dealerships and online platforms to standardize pricing and improve market trust This project applies data science and machine learning techniques to historical car listings in Nigeria to build a predictive model that estimates vehicle prices based on relevant features, ultimately improving transparency and efficiency in the automotive market. ### Data The data used in this project was collected from Cars45.com, a popular online platform in Nigeria that connects buyers and sellers in the used-car market. With this project, we have built a mode …