The World's Cheapest Cars
Only a few years ago, premium cars were all the rage. Now automakers around the world are scrambling to build cars that cost less than $10,000. And some are even striving for a sticker price as low as $3,000. The ostensible lure is hundreds of millions of first-time car buyers in emerging markets. But Western consumers are also showing an appetite for cut-rate wheels. That's because the new generation of low-cost cars offers better quality, comfort, and safety than the bargain-basement models introduced in the 1980s, such as Russia's Lada, the Yugoslavian Yugo, and the Fiat Uno.
This time around, cheap cars will come in all sizes and shapes, from small subcompacts to big minivans. French automaker Renault pioneered the new no-frills car with its roomy 2004 Logan sedan and is rolling out a family of six different models. Expect a swarm of cheap wheels to hit the market by 2009-2010, when Toyota, Volkswagen, Nissan, Fiat, and others unveil competing models.