The Mitsubishi Mirage was the most affordable car you were still allowed to buy in the United States.
Italics to emphasize the past tense – as Mitsubishi has just announced it will stop selling the Mirage after the end of this year. And to emphasize that part about what we’re allowed to buy in this country. In other countries, the people are allowed to choose from among a plethora of affordable cars – and trucks, such as the $13k to start Toyota HiLux Champ, which you can read more about here.
“Mirage is being discontinued in the U.S. market, and there will not be a 2025 model,” according to Jeremy Barnes, Mitsubishi’s North American spokesman. “Production will cease late this year.”
That will leave the Nissan Versa as the only remaining new car you can still buy for less than $20,000.
It will also leave Mitsubishi without a new vehicle in its lineup that stickers for less than $23,695 – which is the current base price of the 2024 Outlander Sport, which will shortly become Mitsubishi’s least-expensive model.
And that means the cost of the least-expensive new Mitsubishi will go up by $7,000 – which is the difference in price between the $16,695 Mirage you won’t be able to buy anymore and the $23,695 Outlander Sport.
That’s quite an upsell – especially given the market. People tend to dial back on discretionary spending when they worry about how much they’re having to spend on non-discretionary necessities such as food and rent. And when they worry they might not have money to spend on those things in the near future.
You won’t be able to buy the Nissan Versa for much longer, either. It’s being cancelled by Nissan well. Probably because its presence in Nissan’s lineup is too much of a contrast vis-a-vis devices such as the Leaf and Ariya.
The mid-sized Altima sedan is also about to walk the Green Mile.
This is an interesting confluence of events. The most affordable cars you’re still allowed to buy are being taken off the market just as the market (on account of the economy) appears to be getting very green around the gills. The decision to cancel the last couple of affordable small cars that are still on the market was probably made when more expensive cars – more finely, more expensive crossovers – like the Outlander Sport – were selling briskly. There is more profit-per-vehicle to be made selling a $26k crossover than a $16k car and so more of an incentive – for both vehicle manufacturers and dealers – to manufacture (and stock) the more expensive models.
So long as they sell, that is.
And – wouldn’t you know – sales of both the Mirage and the Versa have upticked by double digits recently, which indicates a shift in what’s selling. Put another way, it’s a clue suggesting what more and more people are willing – and able – to buy.
In this economy how many people can afford to spend $7k more on a crossover? How many people who still can want to, given what they might not be able to afford next year – like food or rent – irrespective of the outcome of the pending presidential (s)election? The fact that the used car market is surging again is another clue that affordability is becoming desirable again.
How ironic that Mitsubishi (and Nissan) have chosen just this moment to make their offerings less affordable? And not by a little bit, either.
It’s all in keeping with trends.
A couple of years ago, Hyundai cancelled what had been the least expensive new car you were allowed to buy in this country, the $16,400 (in 2021) Accent, which was replaced by the $20,750 (in 2022) Venue, a small crossover. Interesting, the same Venue cost $18,750 in 2021 – which was the last year you still had the option to buy a $16,400 Accent instead.
When that option was no longer available, just like that the price of the same Venue increased by $2,000 – precisely because there was no longer an option to buy any new Hyundai for less.
When that option was still on the table – in 2021, the final year of the Accent’s availability – the difference in cost between a new Accent and a new Venue was only $2,350. The very next model year – when the Accent was no longer available – the least-expensive new Hyundai’s base price had gone up by $4,350. vs. what it had cost the year before to drive a new Accent off the dealer’s lot.
Interestingly, the newest Venue is less expensive – $19,900 to start for 2024 – even though it is the same as the 2022 Venue that had a base price that was $850 lower.
The implication is that it’s getting harder all-of-a-sudden to sell vehicles that cost more than $20,000 than vehicles that cost less than $20,000 – including vehicles that used to cost more than $20,000 such as the Venue.
Mitsubishi and Nissan – which are the only brands still selling cars that cost significantly less than $20,000 – may come to regret their decision to stop selling them as the ability (and desire) of people to buy vehicles that cost thousands more declines as the price of everything else rises.
. . .
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Nissan is going to get rid of the Versa and Altima and only have the Sentra.
Houses are already unaffordable. Now cars are on that path.
But I bet someone will loan you all that money so you can spent the rest of your life paying it back.
Seems like everyone wants a giant touch screen monitor and 10 airbags. No thanks. Why can’t someone make a reasonable vehicle? I’d guess that all this tech is going to be walked back. Most people are already at the point where they can’t afford them any more. My last new vehicle was a 2008 Silverado. After 7 new cars and trucks, from the way it looks now, never again. I did buy a ’12 Escalade, used, but I saved 50K off the sticker.
This is just at the beginning of (((their))) agenda 2030 implementation.
Wait til you see what’s coming… it’s gonna get a lot worse…I hope Y’all are getting ready for the lean times inbound…
Good Luck!!!
Back in 1969, the local taco shop sold three tacos for a dollar.
Nowadays, tacos are everywhere. Every beaner out there is selling tacos from a truck. har
A 2015 Taco from Toyota is at least 26,000 dollars. 5 out of 5, top rated year.
They’re out there.
Probably not the same as a Mexican made taco, to compare and contrast.
In the Yukon Territory, in late July, it is daylight at 3:00 am. Maybe some dusk, but no night like you see where you are.
When you are in Whitehorse, Edmonton Alberta is 1500 miles away.
Then over to Grand Prairie. Post-modern Canadian cities do exist.
Electricity, modern housing, municipal water systems and facilities are luxuries.
You don’t want any of it to go away, it’ll be awful.
We’ve been going back and forth about a new vehicle for months. Test drove six different models from three different makers. Still came back to a Maverick. Even thought about leasing, as a way to give as little money to the beast as possible. Looked at ordering one in the Lariat trim with all the bells and whistles, almost pulled the trigger, then thought 36K would be better spread out over a basket of 5 or 6 different metals.
At the end of the day I’m not giving one thin dime to any of these a-holes. The first one who boldly stands up and says ‘No more,’ to the safety Nazis will get my business. Even if they just offer an opt out option, No, I do not want a device that takes advantage of the wonderful world of ‘connectivity.’
I’m still Gottdamn pissed about how Ford/Lincoln handled the situation with my MKX. And then there is the whole ‘we cant have nice cheap cars other countries can’ because, SPYING. Thats some thick bullshit on Texas toast, requiring great big balls to say, “Only cars that spy for ‘our side’ are allowed. FFS, the sooner the dollar crashes the better at this point.
Also, of all the cars we test drove the Bronco was the worst. Maybe OK in the 90K$ trim, but the little three banger we drove was gutless. I knew it before we left the lot. I told the guy, ‘I’m going take this up the north side off Copper Canyon,’ (six miles away) he quickly said no, they wont let us drive them that far. I imagine on a 6% grade the thing would red line out and be passed by even the 18 wheelers. We drove it through Verde Village which has some small ups and downs and the thing proved absolutely worthless for anything other than flat terrain
Purchase a Suzuki Ignis GL in Mexico. Manual with no Touchscreen. 255.000$MXN. I won’t get into how to drive this in the States but it can be done.
I like that little car. That’s $13.5k in U.S. Dollars and it gets about 51 mpg (4.6 liters per 100km). Weighs about 1,850 lbs (840kg). This would solve so many problems, except of course we’re not allowed to buy it in the land o’ the free.
For fuck’s sake, can’t anyone, especially a burgeoning new start-up, take advantage of this situation and produce a decent and inexpensive new vehicle?!
Here is promising niche to fill. Here is a chance to seize the moment and dominate. Take the bread from mouths of these avaricious morons.
What happened to Elio? Is there no one who will deliver?
Maybe it’s just like the Intel debacle. They demand $Billions from all of us, and we’re obliged to provide it whether we want to or not. They promise jobs and cheap computer chips. Then they give everyone the finger and fire 15,000 people, pocketing our cash and snidely bidding us “So long, suckers!”.
From a free market perspective this absolutely is a hole in the market that COULD be filled. But as a another reader of this site, I probably don’t need to tell you big corporations pay the government to ensure no competitor is allowed to enter the market through various levers and vice grips they have at their disposal.
Yeah, there is that, Mark. I guess I just smoke the hopium that there is a loophole, or that some rebel will do it anyway and maybe there will be a Vehicular Sanctuary State somewhere.
Elio ended up being a scam. They never produced amy vehicles and stole investor money.
‘How ironic that Mitsubishi (and Nissan) have chosen just this moment to make their offerings less affordable?’ — eric
It’s more evidence for Carlos Ghosn’s theory that weak sisters Nissan and Mitsubishi ultimately end up as jewels in Honda’s crown.
Because they just can’t stop effing up.
The suicide death spiral of auto makers continues apace.
Interesting video on why trucks are getting worse:
https://www.youtube.com/watch?v=5UiY20ris0g
EPA regulations have made it nearly impossible to build small trucks, he says … while incentivizing giant pickups that actually get a break on mandated mileage because they are ‘plus-sized.’
Then manufacturers started piling on standard luxury features, and prices zoomed toward $50K and even $100K.
As this idiotic house of cards burns down, I will gleefully throw another log on the fire, roast wieners, and pop another brewski. PROST!
Cheap reliable transportation?
Buy a Mk3 or Mk4 VW Golf or Jetta with a manual transmission….A good analog car.
The Mk1 and Mk2 Golfs are too expensive now, the later Golfs are more expensive too….
To save more money buy the diesel, or for more fun buy the VW GTI.
VW sold millions of these, so parts are available.
Shocked we’re in agreement here.
If you don’t want OEM parts, Aftermarket has you covered as well
Bring back the 1957 Fiat 500 as cheap trasnsportation for the poor slaves…
It cost $700…$7000 in 2024 dollars…it weighed 1100 lb and got 50 MPG……it carried 4 people….it had a cool sounding air cooled engine like a 911……
It had a Ferrari designer designed engine…the two cylinder air cooled engine was designed by Aurelio Lampredi who worked for Ferrari designing engines…then later on he worked for Fiat/Lancia designing engines, like the famous Lampredi twin cam hemi….he also ran Abarth….
Lampredi’s V12 engine gave Ferrari its first Formula One win when José Froilán González won the British Grand Prix in Silverstone in 1951.
Today the slaves are being pushed towards highly dangerous, 5000 lb, $50,000 EV’s that they can’t afford….that is the point…stop them driving…no mobility…..
The Italian people’s car, the Fiat 500 was an ingenious design, and has become a design icon.
https://www.youtube.com/watch?v=EeoebJyTFno
‘Merica: from the invisible hand of the free market to the iron fist of government.
“While I have considered the preservation of the constitutional power of the General Government to be the foundation of our peace and safety at home and abroad, I yet believe that the maintenance of the rights and authority reserved to the states and to the people, not only are essential to the adjustment and balance of the general system, but the safeguard to the continuance of a free government. I consider it as the chief source of stability to our political system, whereas the consolidation of the states into one vast republic, sure to be aggressive abroad and despotic at home, will be the certain precursor of that ruin which has overwhelmed all those that have preceded it”
Robert E. Lee
Wasn’t he prescient.
Eric,
With Nissan and Mitsubishi getting the upticked buying signals from their Versa and Mirage respectively, could they decide to continue these models now? Could they go back on their decision to discontinue these cars? If not, could they bring them both back next year, perhaps?
Oh, and the Hyundai Accent was a good little car. Back in the early 2000s, I test drove a two door model with a stick, and it was surprisingly FUN! With a stick, it was an engaging little car to drive. It’s too bad that they discontinued it.
Another low cost car is no longer available, either: the Kia Rio.
That depends. You can do (almost) anything, if you throw enough money at it.
Undoubtedly they still own all of the relevant intellectual property.
Storage is effectively free now, so they probably still have all of the blueprints and specifications etc.
Do they still have the tooling? Do their suppliers still have the tooling? What would it cost to spin everything back up?
Both cars are still being produced, so all the tooling would still exist-for now. Therefore, making the decision to continue production could easily be made now. Resuming production after it’s been discontinued would pose a problem.
A form of inflation. Instead of just raising up the prices by 15%, just drop the cheap cars. Once you get the line running the added expense of AWD or bigger springs on the SUV isn’t all that much, so build the more expensive vehicle.
The money monopolists would call that progress. Because you see comrades, a penny saved is a penny not being put to productive work in the economy. You hoarders better step up and start contributing to the GDP!
Own a car, Eric? We’re not supposed to “own” anything. Remember? Own nothing, be happy!
Leasing is the way forward. At least that’s what may be driving this. Ownership payment on a $16k car is more than leasing a $23k vehicle. Although, what I don’t understand is how people who can’t make a monthly payment can come up with the $3-8k for the down payment on a lease.
The sad part is this trend won’t subside until the Great Conflagration occurs. That is, the current Fourth Turning ends and survival is paramount. Then and only then will people realize saving the transgender lesbian whales is the insanity it’s always been. Sanity, reason and logic will return when it becomes apparent that that is the only way to survive.
Sorry for the gloomy assessment but, TS Debby knocks at the door.
BTW, here is a list of lease deals. Interesting that Stellantis doesn’t seem to be on the bandwagon…
https://www.carfax.com/blog/best-lease-deals-on-cars