This is a linear regression analysis to model the price of cars using a range of independant variables such as horsepower, car dimensions etc.
Although linear regression is one of the weaker (maybe weakest?) statistical alogorithms in terms of performance it's always a good idea to start with it as linear regression is very easy to explain and serves as a baseline performance benchmark. Step wise variable reduction using VIF and p-values is also a very popular and effective method of variable reduction (which has been used in this analysis). As an alternative lasso regression can be used to automate stepwise variable reduction