Vehicle affordability is a problem, and it’s not getting better

Where did all the cheap cars go? The simple answer: away, and they aren’t coming back anytime soon.

The below-$20,000 new vehicle — long a benchmark for affordability — is an endangered species, and established automakers have little incentive to rescue it.

The Hyundai Venue (pictured is a 2020 Denim model) has a base price of $19,000, but even it tops $20K out the door, thanks to a $1,245 destination charge.

“Automakers are much more focused on the upper end of the market,” Cox Automotive executive analyst Michelle Krebs said.


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