USA: There won't be any cheap new cars under $20,000 from 2025, says report

RahulNagaraj · 10th August 2024, 13:41

According to media reports, by the end of 2025, there could be no new cars on offer priced below $20,000.

The reports mention how most automakers are slowly cancelling their low-margin budget models and concentrating on the premium segment which has high profit margins.

USA: There won't be any cheap new cars under ,000 from 2025, says report-mirage.jpg

Among the most recent are carmakers like Nissan, Mitsubishi and Kia. Japanese brands Nissan and Mitsubishi both confirmed that production of their Versa and Mirage offerings, respectively, will end in early 2025. Kia has also announced the discontinuation of its entry-level model, the Rio sedan and hatchback at the end of this year.

The report also states that market trends favour larger cars loaded with features and tech, which results in them having a higher retail price.

Source: TheCarConnection

Link to Team-BHP news

lemedico · 10th August 2024, 17:02

I suppose this article should specify which geographical market they are referring to. As at least in India, and south east Asia, the $20k price barrier has, and will continue to offer plenty to choose from.

10th August 2024, 13:41	#1
RahulNagaraj Senior - BHPian Join Date: Mar 2021 Location: Bangalore Posts: 2,344 Thanked: 22,441 Times	USA: There won't be any cheap new cars under $20,000 from 2025, says report According to media reports, by the end of 2025, there could be no new cars on offer priced below $20,000. The reports mention how most automakers are slowly cancelling their low-margin budget models and concentrating on the premium segment which has high profit margins. Among the most recent are carmakers like Nissan, Mitsubishi and Kia. Japanese brands Nissan and Mitsubishi both confirmed that production of their Versa and Mirage offerings, respectively, will end in early 2025. Kia has also announced the discontinuation of its entry-level model, the Rio sedan and hatchback at the end of this year. The report also states that market trends favour larger cars loaded with features and tech, which results in them having a higher retail price. Source: TheCarConnection Link to Team-BHP news
	(1) Thanks

10th August 2024, 17:02	#2
lemedico BHPian Join Date: Aug 2013 Location: Agra, Cambridge Posts: 648 Thanked: 1,975 Times	Re: USA: There won't be any cheap new cars under $20,000 from 2025, says report I suppose this article should specify which geographical market they are referring to. As at least in India, and south east Asia, the $20k price barrier has, and will continue to offer plenty to choose from.
	() Thanks