We are currently witnessing the slow death of the sub-$20,000 new car. Just three 2023 model year vehicles existed at this price point (including destination fees), but in recent weeks, that number has dwindled down to one. The Mitsubishi Mirage, which starts at $16,245 ($17,340 with destination), will reportedly be killed off at the end of the year, though Mitsubishi has yet to confirm it officially. In more concrete news, the 2023 Kia Rio, which starts at $16,750 ($17,805 with destination), will not return for 2024.
This leaves only one car, the 2023 Nissan Versa, that truly starts under $20,000. The Versa already owned the title for America's most affordable new car at $15,980 ($17,075), and it can soon tout being the only sub-$20,000 vehicle left standing. What happened to all of the cars that used to compete in this price category? And will they ever come back?
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