August 6, 2024 – The Mitsubishi Mirage is dead, and so is the cheap car market

The Mitsubishi Mirage has officially been discontinued and will not be available in the U.S. market for the 2025 model year. This marks the end of the line for both the Mirage hatchback and the Mirage G4 sedan. With their departure, the Nissan Versa now stands alone as the last new car available under $20,000.

The Mirage, known for its affordability, had starting prices of $18,015 for the hatchback and $19,115 for the G4 sedan in the 2024 model year. Despite being one of the most budget-friendly options on the market, the Mirage struggled with declining sales and was often criticized for its underpowered 78-horsepower, three-cylinder engine.

As the market for inexpensive new cars continues to shrink, the discontinuation of the Mitsubishi Mirage highlights a significant shift in the automotive industry. While the desire for low cost cars seems to be out there, the departure of the Mirage underscores the increasing challenges faced by automakers in producing low-cost vehicles. The Nissan Versa, with its base price of $17,820, remains the sole survivor in the sub-$20,000 category, reflecting the broader trend of rising vehicle costs.