The days of low-cost cars under the $20,000 barrier has all but ended
Description
In the last few years new car prices have scaled upwards perhaps most noticeable at the lower end of the market – if we go back to 2019 before the pandemic there were 52 model variants under the $20,000 barrier – today there is just one – the Kia Picanto hatch sport manual at $18,690. Manufacturers facing stringent new emission and safety regulations, higher costs and shifting exchange rates have not been able to maintain prices at the budget end of the new car market. Take Toyota for example – in 2019 its small Yaris hatchback retailed between $15,390 and $22,690 - today, it spans from $28,990 to $34,590. To counter its small car price rises Toyota is now concentrating on its Toyota Certified Pre-owned strategy, placing emphasis on certain warranties and certain conditions of quality with its dealers.
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