[Digital Today reporter Dae-geon Seok (석대건)] The used car market is expected to show a recovery trend ahead of February, centred on some domestically made sedans. Pickdeal, a sell-my-car service within mobility app Whistle, analysed January transaction data and market trends. It said on Thursday it expects prices for locally made sedans with stable end-user demand, including the Sonata (DN8) and Avante AD, to edge up in February from the previous month.

According to Whistle Pickdeal, January was a period of concentrated price adjustments as model-year changes for new cars coincided with a seasonal off-peak. The market went through an adjustment phase due to the model-year shift and winter slowdown. It said most of the model-year effect has been reflected in the market, and from February additional downward pressure is expected to ease while end-user-led transactions gradually recover.

Hyundai Motor’s midsize Sonata (DN8) is expected to rise 0.7 percent on the month to about 17.77 million won in February from an average 17.65 million won in January. Transaction turnover has been gradually recovering after January’s price adjustment. February pricing also reflects the possibility of a rebound. White and grey were the preferred colours for buying the Sonata, while gasoline accounted for the largest share by fuel type at 81 percent and LPG was about 18 percent.

A recovery trend is also expected for the compact Avante AD sedan. With steady demand from new entrants to the workforce and second-car buyers, the February projected price is seen at about 9.39 million won, up about 0.3 percent from the previous month. The Avante AD had a high share of gasoline models at 94 percent, and its relatively low price range limits the impact from the model-year change.

Whistle Pickdeal is a sell-my-car service that analyses vehicle value by combining its own AI analysis solution with transaction data from the Ministry of Land, Infrastructure and Transport. It presents vehicle prices by combining basic information such as model year, mileage and options with the ministry’s transaction data and AI analysis. It has introduced a blind competitive bidding system in which dealers cannot see each other’s bid prices, minimising price distortions and creating a transparent trading environment that reflects actual demand.

A Whistle Pickdeal official said, "February is when the market is reshaped again around end-user demand after the price adjustment effects from the model-year change have mostly been reflected." The official added, "Rather than all models rebounding across the board, those with stable demand are more likely to show a selective recovery trend, so it is important to refer to data-based price analysis to judge the timing of a sale."