Automakers Are Finally Doing Something about Crazy Car Prices

Let’s be real—new cars are expensive. Between inflation, high interest rates, and dealers slapping on extra fees, a lot of people (especially younger buyers) are getting priced out. But car companies are finally starting to wake up and do something about it.

At the big NADA dealer conference in New Orleans, automakers like Ford, Mini, Mitsubishi, and Ram told dealerships that they’re working on making cars more affordable. And some brands—like Chevy, Chrysler, and Volkswagen—have already started bringing back cheaper models to help fight the rising costs.

Ford’s making moves by reviving the base model Bronco for 2025 and launching a new ad campaign for two of its most budget-friendly vehicles—the Maverick and Bronco Sport. They’re also planning to crank out more of the F-150 STX (one of the most affordable trims) and cheaper versions of the Escape and Explorer.

Ford’s U.S. sales director, Rob Kaffl, made it clear that affordable cars shouldn’t just mean “under $30K.” They want to make sure people have budget-friendly options in every category, not just small cars and entry-level models.

Mitsubishi is thinking about dropping the price of the Outlander Sport and adding a new, cheaper trim. Meanwhile, Ram is planning to introduce more budget-friendly versions of the Ram 1500.

Even though automakers are starting to offer cheaper options, new cars are still ridiculously expensive. J.D. Power says the average price of a new car dipped by about $1,200 in 2024 but still landed at a whopping $46,400 by December.

And even worse? Monthly car payments hit an all-time high of $756. That’s why younger buyers are backing out—people under 35 made up just 17.6% of new car buyers last year, which is way down from before the pandemic.

Ford knows people need cheaper cars, so they’re doubling down. They’ve got a mid-size electric pickup planned for 2027, but until then, they’re focusing on pushing out lower-cost trims of their best-selling models.

Dealers specifically asked for more affordable versions of the F-150, like the STX trim, which costs about 40% less than the fully loaded Platinum model. Ford is also adjusting production based on what different regions need. Florida dealers, for example, want more hybrid F-150s, while Texas dealers prefer two-wheel-drive trucks with max towing power.

Ford’s dealers left the NADA conference feeling good about the company’s new affordability strategy. Eddie Stivers, chairman of Ford’s National Dealer Council, said he’s confident they’re finally addressing the gaps.

Chevy and Volkswagen aren’t waiting around—they’ve already seen success with lower-priced models.

Volkswagen dropped a special Wolfsburg Edition of the Tiguan, their best-selling SUV, in late 2023. In just three months, it made up 6% of all Tiguan sales. It’s based on the mid-level SE trim but comes in fewer colors and has some premium features for a lower price—starting at $32,420.

Over at GM, Buick’s best-selling models were the budget-friendly Encore GX and Envista, with the Envista bringing in a ton of younger buyers. GMC even redesigned the Terrain and ditched the fancy Denali trim in favor of a more affordable Elevation trim, which starts at $31,395.

Chevy has been crushing it in the sub-$30K SUV game. They’ve got three crossovers—the Trax, Trailblazer, and Equinox—that all start under $30,000. The Trax, which they actually killed off in 2022 but brought back in 2024, ended up being their biggest sales comeback. The top trim of the Trax is still under $26K, which is almost unheard of these days.

Scott Bell, Chevy’s VP, summed it up best: “Affordability is why we exist.” And based on sales, it looks like they nailed it.

Mini isn’t sitting this one out either. They’re about to announce lower price points on some models and bring back the Oxford Edition—a cheaper version of their two-door hardtop that was last available in 2022.

Car prices are still sky-high, but automakers are finally making moves to bring back affordable options. Whether it’s Ford reintroducing base models, Chevy dominating with the Trax, or Volkswagen tweaking their lineup, one thing is clear: the industry is realizing that not everyone wants to spend $50K on a new ride.

Now, let’s see if they actually follow through—or if they just keep teasing us with “budget-friendly” cars that aren’t really that cheap.

You can find affordable cars in various makes and models on Autofinder.com.