The cheapest new cars for sale in Canada

Car sales in Canada have experienced fluctuations due to various economic factors, consumer preferences, and technological advancements. Historically, the Canadian auto market has shown a strong preference for light trucks, SUVs, and crossovers, which have consistently outperformed sales of traditional sedans and compact cars. This trend aligns with global shifts towards larger vehicles, attributed to their versatility, safety features, and increasingly fuel-efficient designs.

Economic conditions, including interest rates and consumer confidence, play a significant role in shaping the car sales landscape in Canada. Periods of economic prosperity typically see an uptick in car sales as consumers are more willing to make significant purchases. Conversely, economic downturns or uncertainties lead to a cautious approach, with many delaying new car purchases.

Environmental concerns and government policies have also influenced car sales in Canada, with a growing market segment leaning towards hybrid and electric vehicles (EVs). Incentives such as rebates, tax benefits, and the development of charging infrastructure have encouraged consumers to consider these eco-friendly options. The Canadian government’s commitment to reducing carbon emissions aligns with an increase in the sales of EVs and hybrids, signaling a gradual shift in consumer buying habits.

Technological advancements and consumer expectations around features such as connectivity, autonomous driving capabilities, and advanced safety systems have further shaped the car sales market. Automakers are investing in innovation and technology to meet these demands, influencing new car sales trends.

The automotive industry in Canada is influenced by global market dynamics, including trade agreements and tariffs, which can affect the cost and availability of vehicles. The integration of the Canadian market with global supply chains means that international economic policies and supply chain disruptions can have a direct impact on car sales in Canada.

Overall, car sales in Canada reflect a complex interplay of economic, technological, and socio-political factors, with trends leaning towards larger, more technologically advanced, and environmentally friendly vehicles.

In 2024, car buyers in Canada looking for new vehicles at the most affordable price points have a range of options spanning from compact cars to a surprisingly affordable SUV. Here’s a detailed overview of the five cheapest new cars available in Canada, highlighting their prices, key features, and what makes each unique.

1. 2024 Mitsubishi Mirage: Starting at $16,998, the Mirage retains its position as the most affordable new car in Canada. It features a 1.2-litre three-cylinder engine, a continuously variable transmission (CVT), and basic yet essential interior amenities including a four-speaker AM/FM display audio system with a 7-inch touchscreen, Android Auto, and Apple CarPlay .
2. Nissan Versa: With a starting price of $20,298, the Versa stands out for its balance between affordability and features. It offers a 1.6L four-cylinder engine, manual transmission in base trims, and a suite of safety features alongside a neat infotainment setup​​.
3. Hyundai Venue: Starting at $20,899, this compact SUV showcases the affordability of getting into an SUV. It comes with a 121-horsepower, 1.6L engine, a continuously variable transmission, and a well-equipped cabin featuring heated front seats, an 8-inch touchscreen, and advanced safety technologies​​.
4. Kia Forte: With a base price of $20,995, the Forte offers a compelling mix of features and value. It includes a 2L engine producing 147 horsepower, a continuously variable transmission, and a comprehensive list of infotainment and safety features, making it a competitive option in the compact sedan market​​.
5. Hyundai Elantra: At $21,999, the Elantra presents itself as a sporty and affordable vehicle option. It is powered by a 2.0L engine with 147 horsepower and includes a modern suite of features such as a multimedia system with an 8-inch touchscreen, Android Auto, Apple CarPlay, and a range of driver assistance technologies​​​​.

These models illustrate the diversity available in the Canadian auto market for budget-conscious consumers, ranging from compact cars to SUVs, each offering a blend of practicality, technology, and safety at competitive price points.