As spring approaches, the season for ‘first cars’ is reviving, bringing back the ‘time of K-cars.’

K Car (K-Cars) has analyzed the average market prices for approximately 740 models released in the last 12 years in the domestic used car market. They forecast that the prices of popular small car models like the Kia Morning, Ray, and Chevrolet Spark will show a slight drop of 0.5% on average compared to the previous month as of February 2.

February every year sees a surge in practical vehicle purchases among younger generations due to the new school semester and job hunting. With more customers looking for vehicles for commuting or school, interest in small cars such as K-cars tends to increase, leading to a stronger market price trend.

Accordingly, representative models in the K-car market such as the Kia Morning, Ray, and Chevrolet Spark have generally shown stability in their prices. Considering that the used car market typically experiences an average monthly depreciation of around 1%, this indicates a stronger-than-usual performance in pricing.

Focusing on key models, Kia shows: ▲ The New Morning (JA) at 12.25 million won (+1.0%, compared to the previous month), ▲ All New Morning (JA) at 7.62 million won (0.0%), ▲ The New Kia Ray at 12.74 million won (0.0%), and ▲ The New Ray at 9.67 million won (-0.2%). For Chevrolet, the leading small car models are projected to be ▲ The Next Spark at 6.38 million won (0.0%) and ▲ The New Spark at 7.87 million won (0.0%).

Sub-compact models, which are often considered first car candidates alongside K-cars, are also showing relatively strong prices. For instance, the Hyundai Avante series sees ▲ Avante AD at 9.67 million won (0.0%) and ▲ The New Avante AD at 12.49 million won (-0.6%), while the Kia K3 series prices are projected to be ▲ The New K3 at 8.44 million won (-0.5%) and ▲ K3 at 6.87 million won (0.0%).

Jo Eun-hyung, an analyst from K-Car PM team, remarked, “February to March marks the beginning of the peak season for the used car market, where the K-cars and so-called ‘first car’ models take the lead in the year’s initial sales. In contrast to the overall weakness of large sedans, K-cars show consistent demand, contributing to a generally strong pricing trend.”

Lee Sang-jin daedusj@autodiary.kr