Mobility platform Whistle said on Tuesday it has introduced an AI price report based on actual transaction data to its Pickdeal service. The service analyses various transaction information, including public data from the Ministry of Land, Infrastructure and Transport, to provide prices that reflect overall price trends in the used car market.

If existing price-check services were based on transaction data within a specific platform, Pickdeal eased information asymmetry by reflecting actual transaction prices across the whole market.

In the update, the company revamped the user experience so users can check the 'Sell My Car' AI report directly from the app's main screen. The report calculates a price tailored to the condition of each vehicle based on information entered by users, including model year, detailed trim, mileage and accident history. It continuously reflects recent transaction data to update price information.

Users can also freely search actual transaction prices for vehicles they are considering buying or vehicles of interest. Search results show the highest and lowest transaction prices for the model at a glance, making it usable for purchase and sale planning. Pickdeal operates through a blind competitive bidding format in which multiple used-car purchasing companies participate. Sellers can compare each company's quotes and choose favourable terms.

A Whistle official said, "We have advanced the actual transaction data-based AI price report to reduce the information gap between dealers and consumers in the used car market and to present clearer criteria for judging the price of my car," adding, "We will continue to improve the service so drivers can make rational decisions in the vehicle transaction process."