There are many factors that contributed to the death of the affordable car, many of which come from the automaker side. But consumers are not completely innocent here because they demand more features with each passing year. Even cheap vehicles like the Versa now come with Apple CarPlay and safety technology such as automatic emergency braking. Some of these innovations were mandated by law, including backup cameras (starting in 2018) and anti-lock braking with electronic stability control (starting in 2012). These mandates have made cars safer and more efficient but have driven up prices.
Even when an automaker tries to sell a car with minimal features, consumers tend to add them back with higher trim levels and options. Although the Versa is available for under $20,000, the average transaction price is higher. For example, the base Versa S ships with a five-speed manual transmission, an option few buyers are willing to live with. Opting for the automatic pushes the price to $18,745 with destination, and upgrading to either the SV or SR trim pushes the number to over $20,000.
Then there’s the used car debate. Why buy a Versa with just 122 horsepower when, for the same price, you could likely get an Altima or Camry with more space and more power?
