Dealers may think that any vehicle on their lot would be profitable, but our hypothesis suggests that not all vehicles are equally profitable on the market. For example, according to research conducted by Fox Business, consumers nowadays are more lured to buy a car with better fuel efficiency and reliability (Karalexis, 2022). For example, a seemingly decent Mercedes with poor fuel efficiency might not sell, and its price could depreciate a lot while staying in the lot even if the overall used car market trend is going upward. Dealers may require a strategic purchase plan, though, as not all cars will sell, in order to ensure profit.
One potential approach is making a strategic plan using comprehensive visualization rather than complex statistical inference. Although most dealers lack the technical background necessary to comprehend a causal inference study, they can use the insights drawn from comprehensible plots. One illustration is that many Wall Street investors still rely heavily on charts and technical analysis. The final deliverable consists of descriptive data analysis, interactive plots studying the contributing factors, and business insights, all hosted on this Google site.