Cheap cars explode in popularity in the USA

Cost inflation affecting the entire car market is making an increasing number of Americans look towards cheaper ways to be mobile, statistics shows.

In 2024, sales of compact and affordable vehicles rose by nearly a quarter – by 23%, to be exact. The small sedan market saw a 16% growth, and the compact SUV market enjoyed a 12% increase in sales.

According to market analysts, customers in North America cannot keep up with the new car price inflation, high fuel costs and the rising interest rates on their existing loans. Combined, there factors force most people shopping for a new car to consider more budget-friendly offerings.