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Optimum Replacement Period for Motor Vehicle considering Macroeconomic Parameters

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Author(s): B. Srinivas, Dr. S. Gajanana, Dr. K. Hemachandra Reddy, B. Ravi Kumar

Journal: International Journal of Engineering Research
ISSN 2319-6890

Volume: 2;
Issue: 4;
Start page: 290;
Date: 2013;
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Keywords: Replacement | Inflation | Forecasting | Interest rates | and Money value

ABSTRACT
The present work is a contribution of mathematical and operations research models that help in arriving at the best replacement strategies to determine an age of motor vehicle at which the replacement is most economical. Parameters like depreciation, money value, forecasted inflation, nominal interest rate and real interest rate are taken into consideration in model development and for various situations, the replacement period to motor vehicle is suggested
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