Mitsubishi Motors Corp. will ditch one of America's most affordable new cars even as new-vehicle prices soar.
The Japanese automaker will halt U.S. sales of the Mirage, available as a four-door hatchback and a sedan, by mid-decade and exit the sedan market altogether, sources told Automotive News.
With a starting price of $17,340 including shipping, the subcompact has a singular selling point: efficient transportation at a bargain-basement price.
Cox Automotive said the Mirage was the only vehicle in the U.S. that transacted under $20,000 in July.
"The Mirage became the modern Yugo, a used-car alternative for people who desperately wanted a new car," said Sam Fiorani, vice president at AutoForecast Solutions.
The move comes as Mitsubishi readies to remake — and electrify — its lineup with new and redesigned crossovers, including an Asian market subcompact crossover that could target Mirage customers.
Mitsubishi said it will introduce nine new electrified models globally during the next five years and plow $10 billion into electrified vehicles and battery production through 2030.
Mitsubishi Motors North America spokesperson Jeremy Barnes declined to comment on the future of the Mirage in the U.S.
"It's a vehicle that we still see as having a role in our portfolio at this time," Barnes said. "It fulfills the role of an entry-level vehicle."