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The "small" market for new sub-$20k vehicles includes: the Toyota Corolla, Hyundai Elantra, Mazda 3, Nissan Sentra, Hyundai Kona, and Kia Soul, depending on opt
by argonaut 5y ago
The "small" market for new sub-$20k vehicles includes: the Toyota Corolla, Hyundai Elantra, Mazda 3, Nissan Sentra, Hyundai Kona, and Kia Soul, depending on options. Sometimes you can get a new base Civic for just under $20k. All of these are very popular cars. Basically the entire subcompact car or crossover segments (non-luxury), and most of the compact car segment (depending on options).
- ajross 5y agoOf that list, only the Soul has a starting MSRP under $20k I believe, the others all have $20k as a floor. And I'm not saying that no one buys those cars, just that the market isn't large and that most new cars are significantly more expensive. This link puts the average (I couldn't find a median) at $41k, for example: https://www.usatoday.com/story/money/cars/2021/01/07/new-cars-trucks-suvs-financing-downpayment-prices/4139776001/ https://www.usatoday.com/story/money/cars/2021/01/07/new-car... So a bunch of EV's sitting 20-30% above that level aren't being priced out of the range of popular cars. They're very feasible purchases for most buyers.
- argonaut 5y agoAll those cars sell for well under $20k after discounts and rebates. MSRP != average transaction price: you need to check the KBB value (and some of them also have an MSRP under $20k, like the Hyundai Elantra, Nissan Sentra, and most of the subcompact crossover segment).
- ajross 5y agoI understand how car pricing works. Nitpicking about the threshold isn't the point. Cheap new cars are a real, but small part of the total market. EVs don't compete there well now, but that says basically nothing about the ability of EVs to penetrate the broader market.