Wednesday, October 2, 2024

These Two Small, Cheap Cars Are Selling Like Hotcakes, Despite Impending Discontinuation

Nissan Versa and Mitsubishi Mirage Sales Are Both Up in 2024

The Mitsubishi Mirage and Nissan Versa are the last two mainstream, affordable subcompact cars—heck, last inexpensive cars of any kind—left on the North American market. And guess what? They're recently selling pretty darn well. How well and for how long? 

Mirage Sales Are Way Up

Despite the fact the Mirage is sell surprisingly well, Mitsubishi is dropping both the hatchback and sedan model after the 2024 model year, so if you want one, now's the time to act. So how well are they selling?

The 2024 Mitsubishi Mirage is selling very well.

In Q3 of 2023, Mitsubishi sold just 4,028 Mirages. In Q3 of 2024, however, the brand moved 10,162 units—a 152.3% increase! If we look at year-to-date (YTD) sales, YTD in Q3 of 2023 was at 9,344 cars; Q4 is at 20,024—a 114.3% increase. Frankly, that's wild. Mitsubishi combines the sales of its hatchback in the G4 Sedan into one bucket, by the way. A new 2024 Mirage can be had for $17,840.

Versa Sales Are Also Up

It's not just Mitsubishi's small car experiencing extraordinary sales. Nissan's Versa sedan, a bit larger than the Mirage and Mirage G4, is up 68.1% between Q3 2023 and Q3 2024. The YTD sales are also up to the tune of 64.2% selling 29,302 models in '24. Also impressive. Only the Nissan Z had a larger increase in YTD sales in its lineup, but also only sold 2,175 units thus far this year. A new 2024 Versra can be had for $17,820.

2025 Nissan Versa

Why Are Mitsubishi Mirage and Nissan Versa Sales Up?

This is the big question—why are sales up? First, these are the only two cars available on the U.S. market for under $20,000. The average price of a car in the U.S. has swollen to $47,870 in 2024, so anything new for less than half that is a downright bargain. But both the Mitsubishi Mirage and Nissan Versa offer honest, frugal transportation with a surprising amount of standard features. So perhaps new car buyers are simply smitten by the low cost. But these cars aren't new, so perhaps its the economic climate that's leading so many more buyers to these two models.

If you've been a Subcompact Culture reader for a while, you'll know the small car market has almost completely dried up in North America, and the Mirage and Versa are the only two mainstream models left. There are a couple of other small cars left, but the aren't cheap. (MINIs have a premium price-to-size ratio; the Fiat 500e is also kind of its own thing.) So perhaps the right amount of cars at this moment in the mainstream subcompact car segment is just two. 

But despite the sales bumps, Mitsubishi and Nissan have both announced these two cars will be put out to pasture; the Mirage after the 2024 model year and the Versa after 2025. So is this just a matter of getting these cars before they go away, or is it a sign of the times that buyers are looking for inexpensive new cars again?

Get Them While They're Hot (And Still Alive)

There can be a phenomenon where an automaker announces a car will get axed, and then sales get one more bump before the guillotine does its thing. It doesn't happen often, but can happen. My guess is Mitsubishi and Nissan have both already decided these cars are going to end up on the cutting room floor, and you won't get them after 2024 and 2025, respectively. 

But it also begs the question: do buyers want smaller, more affordable new cars like Mirage and Versa, or are two cheap cars enough for the North American market at this time? Once they're kaput, will there be a need to refill this segment?

We know small and inexpensive cars aren't usually profitable for automakers, and that's one reason why you saw them go away starting around 2014. But small car trends also come and go every 10–15 years, so perhaps the Mirage and Veras's seemingly imminent discontinuation, another manufacturer will give the inexpensive small car thing a try. Again. I'm not banking on it, but time will tell. Until then, you'd better get them while you can. 



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