The Mitsubishi Mirage, a compact five-seater hatchback once hailed as the most budget-friendly car in the U.S., is nearing its final days on dealership lots, as reported by the Independent. With an average price of just $18,484, it stood as the last vehicle below the $20,000 mark—but not for much longer.
According to vehicle data firm Kelley Blue Book, the Mirage was discontinued in June, and its inventory is shrinking fast, with fewer than 1,700 units available nationwide. By the end of summer, the ultra-affordable model is expected to vanish entirely from new car listings, signaling the end of sub-$20K vehicles in America.
Data from auto research firm Edmunds shows that the typical price tag for a new vehicle in the U.S. reached $48,422 in April, while used models averaged $25,373. Although buyers often negotiate prices with dealerships, automakers provide guidance through the ‘manufacturer’s suggested retail price,’ or MSRP, which averaged $50,408 for new cars that month, highlighting the steady rise in car costs across the board.
Vehicle prices have remained relatively steady, as dealerships work through inventory acquired prior to the implementation of tariffs. Furthermore, concerns over potential tariff impacts have made consumers hesitant to make major purchases, leading to a noticeable decline in car demand.
Meanwhile car prices are expected to rise due to President Trump’s 25% tariffs on imported vehicles and auto parts. Although prices have held steady since the tariffs were introduced in April, CNN notes that industry experts anticipate a significant spike in the coming months.
Ivan Drury, Edmunds’ director of insights, told CNN that the current stability in car prices might encourage more buyers to make purchases in the near future, a surge that could drive prices higher later in the year.
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