Predicting Used (off-lease) Vehicle Pricing for Automobile Dealers

Predicting Used (off-lease) Vehicle Pricing for Automobile Dealers

Machine learning based dynamic pricing models for used vehicles exposed as secure APIs for dealers in USA.

Summary

The client is a leading automobile manufacturing company founded in 1981. It provides competitive financial products & services to dealers and their customers throughout the United States including retail leasing, retail financing, and balloon financing, along with wholesale financing for new and used vehicles.

Our Solution

  • Built comprehensive workflow and machine learning solution using RapidMiner Data Science Platform.
  • Built Outlier detection, upstream, downstream, and demand level models.
  • Provided secure API to dealers to query the pricing on demand (rather than static list price).

Benefits

  • Streamlined the dynamic pricing process based on the sales data and various (90+) parameters influencing the pricing on a daily basis.
  • Increased profitability by increasing sales and reducing costs (unwanted discounts by sales reps).

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