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Low-Cost Cars Going Extinct
Filed under: Opinion, Compact
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If you're looking about to trade in your full-sized sedan, wagon, or -- good luck -- SUV, for an inexpensive new compact like you did back in college, well, you better have good credit. That, or more cash to hunker down.
A study by J.D. Power and Associates has discovered that there are only 10 car models in the U.S. market that have an average transaction price of less than $15,000. They include:
- Chevrolet Aveo $12,258
- Chevrolet Cobalt $13,888
- Hyundai Accent $12,883
- Kia Rio $13,609
- Kia Spectra $14,848
- Mazda B-Series $14,391
- Nissan Versa $14,946
- Suzuki Forenza $14,816
- Suzuki Reno $13,980
- Toyota Yaris $14,137
During the same period the year before, there were 15 models available. Our take? So what happened? Consumer demand, that's what happened. Cheap cars don't sell so the automakers had to jack up the price while adding features such as remote locks. Add the rising cost of materials and government regulations and you suddenly see compacts becoming this generation's mid-sized sedan.
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