Cheap Is the New Black: Lower Cost Cars, SUVs, Trucks Grab Attention
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
The $20,000 price tag of new electric vehicle brand Slate's first model, after incentives, took social media by storm following its debut late last month. The unveiling didn't start a revolution, it amplified a conversation that has been quietly ongoing for years: New, budget-friendly cars, trucks and SUVs are desirable.
A decade ago, low price points weren't always matched with reasonable quality product. The cheapest models on the market were usually from Hyundai and Kia, and heavy on basic functionality and low on nice appointments and technology.
Today, the tables have turned. Entry-level models from those brands are nearly as well appointed as those in the middle of the product lineup.
"Reaching a specific price point can be made easier by simply reducing content, but Kia's artistry is in providing a high and relevant level of features at very competitive price points. That is a core strength of the Kia brand," Steve Center, chief operating officer and executive vice president of Kia America, told Newsweek. "The new K4 sedan is a perfect example. As one of the few new vehicles in America with a starting price under $22,000, K4 sales have increased every month in a clear sign that value and substance matter the most."
Price-conscious Americans are getting lower-cost options in the SUV market. In April, Nissan announced manufacturer's suggested retail price (MSRP) decreases across its Rogue product line. The two-row SUV now starts at $28,590, a reduction of $640. The all-wheel drive version of the Rogue Rock Creek saw the biggest cut, with Nissan knocking $1,930 off the sticker, making its MSRP $33,490.
The three-row Pathfinder SUV saw similar decreases, with its base MSRP now sitting at $36,400. It tops out at $50,640. Pricing changes for Rogue and Pathfinder ensure that the vehicles are cost-friendly options versus the competition from Toyota and Honda, among others.
Vinay Shahani, senior vice president, U.S. marketing and sales, Nissan Americas, told Newsweek: "Nissan holds a unique position in the industry. Not only do we offer six vehicles at a starting price of under $30,000—spanning sedans, SUVs and EVs—but, in a market where vehicle prices have increased, we've recently further reduced the price of our best-selling model, Rogue. Whether a first-time buyer or someone simply seeking greater affordability, we can meet consumer needs without compromising on quality, safety, advanced technology or value."
The six Nissan models that start under $30,000 include the Altima, Sentra and Versa sedans, Leaf electric car and Kicks and Rogue SUVs.
The $30,000 price point is a sweet spot for American buyers. "The average price of a used vehicle sold at a franchised dealer in April 2025 was $29,307, up $241 (0.8 percent) year-over-year and up $6,781 (30 percent) compared to 2020, before the supply shortage. However, used prices in April have declined $1,961 (-6.3 percent) from the 2022 peak, when supply constraints were most severe," Tony Salerno, senior vice president at J.D. Power, told Newsweek.
"For customers, lower price point new models offer peace of mind—particularly because of a warranty. While Certified Pre-Owned (CPO) vehicles are a viable substitute, many buyers still prefer a new vehicle with lease and financing options," he said. A considerable number of used vehicles do not come with the advanced safety technologies that new models are equipped with.
Other vehicles under $30,000 include the Kia Sportage, Chevrolet Trax, Buick Envista, Toyota Corolla Cross, Hyundai Venue, Kia Soul, Chevrolet Trailblazer, Hyundai Tucson, Buick Encore GX, Kia Niro, Hyundai Kona, Toyota RAV4, Kia Seltos, Jeep Compass and Chevrolet Equinox SUVs. Ford Maverick and Hyundai Santa Fe trucks are similarly priced, as are Honda Civic, Toyota Corolla, Hyundai Elantra, Hyundai Sonata, Kia K5 and Toyota Prius cars.
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