According to a list entitled “The 10 Cheapest Cars for Sale” provided by 24/7 Wall Street in conjunction with car analytics group Edmunds.com, the Chevrolet Spark, the Chevrolet Sonic, and the Ford Fiesta were the American-owned cars that were among the 10 cheapest in 2012.
All other cars were products of Mazda, Hyundai, Kia, Smart (Mercedes-Benz), Toyota and Nissan.
Mazda, Toyota and Nissan are all Japanese-owned, whereas Kia and Hyundai are headquartered in South Korea. Smart is a product of Mercedes-Benz USA, owned under the Stuttgart, Germany-based Daimler AG.
For the most part, the 10 cheapest cars were four-door, four-cylinder vehicles with high gas mileage.
24/7 Wall Street cites Smart’s ad campaign via Twitter and Kia’s use of hip-hop music as evidence that most of these car companies targeted young Americans on low budgets.
“All of the most inexpensive cars target or were initially designed for younger Americans with limited budgets,” the Dec. 10 24/7 Wall Street report said. “Of course, while it’s not necessarily their target demographic, lower-income families and buyers looking for a second car also make up a number of these buyers.”
In the first 11 months of 2012, nearly 500,000 of the 10 cheapest cars have been sold to American consumers.
The average price of all cars in 2012, including light trucks and SUVs, is just over $30,000.
Here is a list of the ten cheapest cars for 2012:
10. Mazda 2, Base Price: $14,720.
9. Hyundai Accent, Base Price: $14,545
8. Kia Soul, Base Price: $14,400
7. Toyota Yaris, Base Price: $14,730
6. Chevrolet Sonic, Base Price: $14,200
5. Kia Rio, Base Price: $13,600
4. Ford Fiesta, Base Price: $13,200
3. Smart Fortwo, Base Price: $12,490
2. Chevrolet Spark, Base Price: $12,245
1. Nissan Versa, Base Price: $11,990