GITNUX MARKETDATA REPORT 2024
Statistics About The Most Affordable Car
The most affordable car typically has a lower price range compared to other vehicles on the market, making it accessible to a wider range of consumers.
In this post, we will explore a range of statistics relating to the affordability of cars in the current market. From the cheapest new and used car options in America to insights on fuel efficiency and depreciation rates, these data points provide valuable information for those in the market for a cost-effective vehicle. Let’s dive into the numbers to better understand the landscape of affordable car options available today.
Statistic 1
"The Cheapest New Car in America is Chevrolet Spark, priced at around $11,400."
Statistic 2
"The cheapest Used Car in America under 10 years old is a Chevy Sonic, priced at $6000 on average."
Statistic 3
"The most cost-effective electric vehicle to own is the Nissan Leaf, which costs roughly $31,600."
Statistic 4
"According to TrueCar, the average price for a used small car in the United States in 2022 is $15,991."
Statistic 5
"The Hyundai Elantra has a fuel economy of 43 miles per gallon, making it one of the most affordable cars in terms of fuel consumption."
Statistic 6
"The Kia Soul has the lowest 5-year depreciation in subcompact and compact cars category, making it an affordable choice."
Statistic 7
"The average price of a new compact car in the U.S. in 2019 was $20,000."
Statistic 8
"19% of used vehicles purchased in 2020 cost less than $10,000."
Statistic 9
"In 2021, the average price of a used car was $20,000 in the United States."
Statistic 10
"Cheapest brand new car you can buy in Canada is the 2021 Hyundai Venue at $17,599."
Statistic 11
"The average car loan interest rate for people with good credit is approximately 4.96% for a new car."
Statistic 12
"In the UK, the Dacia Sandero remains the most affordable new car, priced at just £7,995."
Statistic 13
"The Tata Nano was the world's cheapest car, priced as low as $1,600 in India."
Statistic 14
"In 2021, car buyers in the United States paid an average of $42,258 for a new vehicle."
Statistic 15
"For the Calendar Year 2019, the Toyota Corolla was the best selling car in the world."
Statistic 16
"Americans, on average, own their cars for an average of 6 years and 9 months."
Statistic 17
"The average price of a used car surged 24.4% within the past year, 2021."
Jannik Lindner
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The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.
