New car shoppers looking for a low-cost option are about to find it a little harder.
Mitsubishi plans to discontinue to the Mitsubishi Mirage in the U.S. Market, which ends the vehicle’s 46-year run. The company will instead focus on other core models.
Mitsubishi confirmed the news to Car & Driver, saying “Production will cease late this year, and we expect to have sufficient dealer stock to last into the summer of 2025.”
The Mirage was one of a very small number of new vehicles that carried a sticker price below $20,000 for new models: The Mirage hatchback started at $18,015 and the Mirage G4 sedan cost $19,115. As those disappear, only Nissan will have a sub-$20,000 car for sale—the Versa.
Sales of the Mirage have been falling off for some time, as shoppers have opted to pay more for cars with more horsepower under the hood and bolder body styles.
The decision to discontinue the Mirage in the U.S. Comes a little over a year after Mitsubishi took a similar action in Japan. The company is likely to bring over new models that better resonate with buyers, including, perhaps, a hybrid.
The end of the low-cost option, though, comes as the average price of a new vehicle is on the rise. In the first quarter of 2024, the average new car cost $48,510, according to Cox Automotive and Kelly Blue Book. That’s a more than 50% increase in the past decade.
Detroit’s Big Three automakers—General Motors, Stellantis, and Ford—began doing away with compact and subcompact cars roughly six years ago, citing low profit margins and consumers’ increasing shift to SUVs and trucks.