The affordability of new cars in the United States is officially on its last legs.

Soon, it will no longer be possible to buy a brand new model for less than US$20,000.

At a time when the cost of living is already weighing on Americans’ pockets like never before, this change represents a hard blow to those who still dreamed of a new, affordable car.

Currently, the Mitsubishi Mirage is the last remaining car below this price range. In June, the average transaction price for the model was $18,484.

But time is running out: production ended in 2023 and what remains at dealerships is only the final stock.

According to estimates, fewer than 1,700 units remain on dealer lots. After that, it’s the end of the line for the Mirage—and for popular cars in the US.

Meanwhile, the average price of new cars continues to rise. In June, it reached $48,907, a 0.4% increase from the previous month.

Even though it may seem small, this reinforces a constant trend of rising costs in the American automotive sector.

Brands like Polestar and Volvo , from the Geely group, led the increases, with a 1.7% jump and an average of US$59,927 per vehicle. General Motors also saw an increase, with an average of US$54,909.

And it wasn’t just the Mirage that fell out of the mainstream price range. The Nissan  Versa , which until recently was the only other option under $20,000, also dropped out of the race.

The manufacturer eliminated the base version with a manual transmission, which sold for $18,990. Now, the cheapest version of the model costs $20,130, including shipping. Another step up for those who need a new car without spending a fortune.

Consumers, in turn, wasted no time: the Mirage was Mitsubishi’s second best-selling model in the US in 2024, with 22,766 units sold.

This represented an impressive 125% increase over the previous year. After all, it was literally the last chance to own a new car at an entry-level price.

Despite the overall increase, some brands saw declines in their average prices. Tata Motors, owner of Land Rover , saw its prices fall 7.7% in the month. Tesla fell 0.5%, and the Volkswagen Group fell 3.3%.

Among the negative highlights by brand, Land Rover led with a drop of 7.9%, followed by Lincoln (-2.9%) and Ram (-2.1%).

On the other hand, some brands went against the tide. Chrysler saw its average prices rise 3.4% in the month, while Mitsubishi, still buoyed by the Mirage, rose 3.5%. MINI , Buick, and Chevrolet also saw slight increases.

Price variations by brand reinforce inequalities between segments — and the difficulties for those who still dream of owning a new entry-level car.

Ultimately, reality sets in: the affordable new car is officially extinct in the United States. And with average prices approaching $50,000, the average consumer will be increasingly pushed into the used market—if they want to keep driving.

Mark	Average value
Acura	$50,542
Audi	$64,735
BMW	$72,274
Buick	$35,421
Cadillac	$78,649
Chevrolet	$50,515
Chrysler	$46,581
Dodge	$49,971
Ford	$54,446
Genesis	$63,304
GMC	$65,783
Honda	$37,966
Hyundai	$36,290
Infiniti	$66,723
Jaguar	$69,586
Jeep	$48,865
Okay.	$36,043
Land Rover	$100,682
Lexus	$60,822
Lincoln	$67,377
Mazda	$35,962
Mercedes-Benz	$78,249
MINI	$40,924
Mitsubishi	$32,648
Nissan	$34,544
Porsche	$113,352
Ram	$61,488
Subaru	$35,561
Tesla	$54,989
Toyota	$42,258
Volkswagen	$38,850
Average of brands	$48,907