Auto blog

Cheapest SUVs of 2024

There is no doubt that cost is the number one decision maker when it comes to purchasing a vehicle. As prices continue to climb, affordable choices are getting harder to find, so we dug through what's available to find the least expensive SUVs in the most popular classes.  These prices are current as of January 2024, using available manufacturer suggested retail prices for 2024 models wherever possible. The prices include destination fees, but not dealer markups or incentives. Cheapest small SUV: 2024 Hyundai Venue Not surprisingly, the most affordable SUVs are the smallest. There's a whole host of subcompact SUVs out there, with some of the first introduced being the Nissan Juke, Mini Countryman and Kia Soul. In the beginning, these micro utes were marketed to empty nesters and first-time buyers, but nowadays they represent an alternative to the conventional sedan and have been increasing market share ever since. Profit margins in this class are narrow and popularity is high, which means the entrants are competitively priced. The top choices in the class are only a couple thousand dollars more than the most affordable alternatives below, so it may make sense to consider our favorites that include the Mazda CX-30, Volkswagen Taos and Chevrolet Trax. 2024 Hyundai Venue: $21,135 The Hyundai Venue debuted in 2020 and earned praise for its overall value. You get a ton of features for the money as well as a very generous warranty. Holding it back is its rather weak engine and very tiny proportions. Honorable mentions: 2024 Chevrolet Trax: $21,495 2024 Kia Soul: $21,565 Cheapest midsize SUV: 2024 Chevrolet Equinox Compact SUVs have the broadest appeal thanks to a very diverse group. It seems as though there's a great pick for nearly every taste, whether you're seeking something sporty, rugged or luxurious. They're a great pick for small families with one child and/or a dog. The class is led by vehicles that include the Honda CR-V, Kia Sportage and Mazda CX-50, which are still within reach of most shoppers' budgets. 2024 Chevrolet Equinox: $27,995 The Equinox debuted back in 2005 and this current third-generation was last redesigned in 2018, though a new one is right around the corner for the 2025 model year. While the current 2024 model may be showing its age, it still deserves your consideration for its comfortable ride quality, confident cornering and roomy passenger space.

Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.

Mystery shoppers love Infiniti, hate Tesla

Infiniti, followed by Lexus tied with Mercedes-Benz took the top two spots for best sales experience according to mystery shoppers from the latest Pied Piper Prospect Satisfaction Index, while EV manufacturer Tesla recorded the lowest overall score. Not surprisingly, premium brands dominated the top ranks. Including the three already mentioned, luxury brands occupied seven of the top ten spots and included Audi, BMW, Porsche, and the only American brand to crack the upper echelon, Cadillac. Toyota, Volkswagen, and Nissan rounded out the first ten positions. The news for domestic automakers isn't good. Aside from Caddy, the only other star-spangled automaker to score above the industry average is Chrysler. The rest of FCA, most of GM, and all of Ford fell below the line. But Pied Piper's mystery shoppers handed Tesla the biggest walloping – the company is ten full points below the next lowest brand, Volvo, and its score of 86 is 17 below the average of 103. It's baffling, considering the company's touted direct-sales model. "Tesla leaves me scratching my head," Fred O'Hagan, Pied Piper's president and CEO, told Wards Auto. "They own all of their stores, so you would think each one would be doing the same thing. But they're not. Tesla is consistent in its inconsistencies." O'Hagan added that there's a "huge variation" in Tesla's store-to-store effectiveness, and that in some cases, shoppers found showroom workers that acted more like "museum curators," Wards Auto reports. It might be popular to call Tesla the Apple of the car world, but based on Pied Piper's work, the brand has a long way to go to emulate the uniform shopping experience of an Apple Store. The news might be bad for Tesla, but even for the brands that scored below average, there's cause for celebration. Only Tesla and Mini lost points in this year's rankings, and only Mercedes and Lincoln held steady. Every other brand, including Infiniti, which topped the index for the first time, gained at least one point. The biggest improvements belong to Porsche, Land Rover, and Mitsubishi, which all jumped five points. Pied Piper's annual Prospect Satisfaction Index uses mystery shoppers – over 6,100 this year – from across the country to assess dealers and generate rankings from over 50 individual factors. News Source: Pied Piper via WardsAuto Green Audi BMW Cadillac Chrysler Infiniti Lexus Mercedes-Benz Nissan Tesla Toyota Car Buying Car Dealers study