Price Determinants on Used Car Auction in Taiwan

Shiang-Min Meng (), Li-Jen Liu, Mikhail Kuritsyn and Vladislav Pechnikov

International Journal of Asian Social Science, 2019, vol. 9, issue 1, 48-58

Abstract: This research examines price determinants of used car using the example on Taiwan used car auctions. The used cars which were produced in Taiwan and whose final price does not exceed one million New Taiwan Dollars. Research data from used cars auction website which included 504 successful transactions in Taiwan used car auction marketing. The log-linear multiple regression model is applied to evaluate this data. According to the results, polynomial log-linear multiple regression models is more suitable for this research and produces better results. As the result shows that the chosen variables can explain changes in price determinants of used cars in Taiwan auctions marketing and Toyota has very strong brand reputation in Taiwan. All chosen variables are statistically significant at 1% confidence interval (p-value<0.01) and all coefficient signs are as expected. Only one variable MILEAGE is not statistically significant. ENGINE is a second variable in decreased marginal effect of engine size on price determinants. This research conclusion is useful for local traffic authority and used car traders to control driver’s price determinants choice on used car displacement.

Keywords: Used car; Price determinants; Log-linear multiple regression model; Ordinary least squares; P-value.; Toyota; Taiwan used car auctions marketing. (search for similar items in EconPapers)
Date: 2019
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