Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022)

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Used Car Price Prediction Analysis Based on Machine Learning

Authors
Jingwen Huang1, *, Zhiwen Yu2, Zhaopeng Ning3, Dinghuo Hu4
1College of Transportation Engineering, Dalian Maritime University, Dalian, Liaoning, China
2College of Electronic Information and Electrical Engineering, Tianshui Normal University, Tianshui, Gansu, China
3College of Information Science and Technology, Dalian Maritime University, Dalian, Liaoning, China
4College of Naval Architecture and Ocean Engineering, Dalian Maritime University, Dalian, Liaoning, China
*Corresponding author. Email: 2013448479@qq.com
Corresponding Author
Jingwen Huang
Available Online 2 December 2022.
DOI
10.2991/978-94-6463-010-7_37How to use a DOI?
Keywords
Valuation Models for Used Cars; Xgboost; Catboost; Lightgbm; Model Fusion
Abstract

In order to solve the problem of price evaluation in the Chinese used car retail scene, this paper constructs the feature engineering of machine learning (XGBoost, CatBoost, LightGBM) and Artificial Neural Network Models based on the collected data of 30,000 Chinese used car transactions. The forward feature selection algorithm is used to solve the optimal feature combination; the grid search algorithm is used to optimize the hyperparameters of each model; the evaluation indicators of the four single models are compared and analyzed by leave-one-out cross-validation; analyze and compare the fusion results of the three models and the four models; finally, the model with the highest goodness of fit, that is, the fusion model of XGBoost, CatBoost, LightGBM, and ANN with R2 = 0.9845, is selected as the best model for used car price prediction. Through the prediction model established in this paper, it can guide used car dealers and the financial and insurance industry to establish a used car price evaluation system, and promote the improvement of a reasonable and standardized used car trading market system.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022)
Series
Atlantis Highlights in Intelligent Systems
Publication Date
2 December 2022
ISBN
10.2991/978-94-6463-010-7_37
ISSN
2589-4919
DOI
10.2991/978-94-6463-010-7_37How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jingwen Huang
AU  - Zhiwen Yu
AU  - Zhaopeng Ning
AU  - Dinghuo Hu
PY  - 2022
DA  - 2022/12/02
TI  - Used Car Price Prediction Analysis Based on Machine Learning
BT  - Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022)
PB  - Atlantis Press
SP  - 356
EP  - 364
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-010-7_37
DO  - 10.2991/978-94-6463-010-7_37
ID  - Huang2022
ER  -