Cheap Cars Are Dead

Soon there won’t be a single new car in the US for under $20,000.

By the end of next year, there might not be a single new car in America that costs less than $20,000. The Mitsubishi Mirage and Kia Rio are headed to the big junkyard in the sky, as will the Nissan Versa. They’ll follow nearly a dozen other cars in the sub-$20,000 category that have died off since 2019 in a mass exodus from affordability.

Much of it has to do with Covid….