Ford Car Price Prediction

Project Overview

Price forecasting may be a feature of consumer-facing travel apps, such as Trainline or Hopper, used to increase customer loyalty and engagement. At the same time, other businesses may also use information about future prices. Entrepreneurs may need to define an optimal time to buy a commodity to adjust prices of products or services that require a commodity (Metals, Chips, rubbers), or evaluate the investment appeal of fixed assets.
The following Dashboard shows the past, the present and the future price prediction of 24 different Ford car model. It shows the comparison of the price of each car model along with different fuel type, transmission, engine size and year model based on percentage YOY Prices and the price per mileage gone.

Problem Statement

The global semiconductor chip shortage is wreaking havoc on the auto industry, and contributing to the newly announced price increase. According to Business Insider, Ford anticipates a loss of $2.5 billion this year. This is one one of the reason customers have been seeing higher car prices

Executive Summary

Data Dictionary

Key Takeaways

1. Automakers must make their price open for consumers - Every time when the company is updating Its MSRP (manufacturer’s suggested retail price), it is better to publish its price so that the consumers will know the MSRP and not cheated by wrong Car dealers. These Dashboard will help the company to publish its price every time and even for the end user it can help like a catalogue to know the price of each model according to their model, year, engine size, transmission, and fuel type.


2. Hiring more manpower and importing more raw materials – When we see our report from 2020 and above the YoY Price is going above 21%. So ,I would suggest to put more man power and materials to satisfy the consumers since the threat of the pandemic is also declining.

3. Mustang Model Price is showing growth- That means there is a better sale and better interest in the new Models. So, I recommend the company to manufacture more new models.

4. Puma Model Price is declining - That means the interest of the consumers over the new models are not good in US. So, I recommend the company to manufacture inside US according to the people interest rather than importing them from Europe.