The median price of a new car just keeps going up; it was some $35k in 2019. Yet one can buy a perfectly functional new Mitsubishi Mirage for under $10k. Yeah, it’s not the most sophisticated car on the market, but it’s not that bad either, as basic economical transportation. And the price, according to these ads, is dirt cheap. Inflation adjusted ($1,500 in 1970 dollars), it’s significantly cheaper than a VW was in the ’60s, or a Maverick in 1970.
Yet it doesn’t sell well, as in about 23-27k units per year. How come? Would you buy one?