New car shoppers looking for a low-cost option are about to find it a little harder as Mitsubishi plans to discontinue the Mitsubishi Mirage in the U.S. market, ending the vehicle’s 46-year run. The company will instead focus on other core models, leaving only the Nissan Versa as the sole sub-$20,000 car for sale.
The Mirage was known for its affordability, with the hatchback starting at $18,015 and the Mirage G4 sedan costing $19,115. However, sales of the Mirage have been declining as consumers are willing to pay more for cars with more power and style. This shift in consumer preferences has led Mitsubishi to make the decision to discontinue the Mirage in the U.S.
This move follows a similar action taken by Mitsubishi in Japan a little over a year ago. The company is likely to introduce new models that better resonate with buyers, potentially including a hybrid option. However, the end of the low-cost option comes at a time when the average price of a new vehicle is on the rise.
According to Cox Automotive and Kelly Blue Book, the average new car cost $48,510 in the first quarter of 2024, marking a more than 50% increase over the past decade. Detroit’s Big Three automakers—General Motors, Stellantis, and Ford—have been phasing out compact and subcompact cars in recent years due to low profit margins and the growing consumer preference for SUVs and trucks.
With the discontinuation of the Mirage, new car shoppers will have fewer options for affordable vehicles. However, as the automotive industry continues to evolve, it is likely that new models will be introduced to meet the changing demands of consumers. In the meantime, those looking for a budget-friendly option may need to consider alternatives or explore the used car market for more affordable options.