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Automobile Prices and Macroeconomic Trends
Finance & Banking Analytics
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About
Analyze the critical relationship between vehicle pricing, demand, and major macroeconomic forces such as inflation and interest rates. This data product contains precise monthly records, allowing users to explore the influence of economic variables on the structure of vehicle pricing and overall market demand over a pivotal five-year period. The layout is structured specifically for correlation studies, econometric modeling, and advanced machine learning applications.
Brief Description
This dataset provides a detailed analysis focused on new and used car prices tracked alongside key economic indicators. It facilitates the study of how variables like inflation and interest rate movements affect vehicle pricing stability and unit sales figures. The product is derived from 60 monthly observations, suitable for in-depth time series analysis and market trend identification.
Columns
- Month/Year: Records the specific month, spanning from January 2019 to December 2023.
- New Price ($): The new price recorded for a Toyota Camry. The mean value is approximately 25.5k.
- Used Price ($): The used price recorded for a Toyota Camry. The mean value is approximately 15.6k.
- Inflation Rate (%): The corresponding monthly inflation rate.
- Interest Rate (%): The prevailing monthly interest rate.
- Units Sold: The volume of new Toyota Camry units sold. The average volume sold is around 42.7k.
Distribution
The product consists of 60 monthly data points, delivered in a correlation-friendly CSV format (
automobile_prices_economics_2019_2023.csv) with 6 distinct columns. Data validation indicates that 98% of the records are valid, with 2% of records missing across the measured variables.Usage
This product is highly useful for:
- Forecasting future automobile pricing trends.
- Executing detailed trend analysis of the auto sector relative to national economics.
- Running policy simulation models to gauge market reaction to monetary changes.
- Developing machine learning models aimed at predicting price fluctuations.
- Econometric studies examining supply, demand, and elasticity in the vehicle market.
Coverage
The data spans a crucial period of economic activity, covering 60 months from January 2019 up to December 2023. The scope is centred on the pricing (new and used) and sales volume of a specific vehicle model (Toyota Camry), linked to observed macroeconomic variables (inflation and interest rates).
License
Attribution 4.0 International (CC BY 4.0)
Who Can Use It
- Economists: For rigorous analysis of consumer spending, monetary policy impacts, and durable goods markets.
- Data Scientists: For building and testing time series forecasting and causal inference models.
- Automotive Industry Analysts: For understanding how broader economic shifts affect market strategies and profitability.
- Financial Professionals: For monitoring indicators relevant to lending and asset depreciation.
Dataset Name Suggestions
- Automobile Prices and Macroeconomic Trends (2019–2023)
- Vehicle Pricing Dynamics vs. Economic Indicators
- Camry Market Performance and Inflation Rates
Attributes
Original Data Source: Automobile Prices and Macroeconomic Trends
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