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Published: March 10, 2024
Driving.ca has identified the most affordable car models for 2024 in Canada, from small cars and electric vehicles to SUVs and small trucks.
Their evaluation was based on the Manufacturer's Suggested Retail Price (MSRP), which does not account for dealer fees or taxes, along with a comparison of basic features, mileage compared to other similarly sized and powered models.
Here are the cheapest cars in Canada:
Cheapest electric car in Canada:
Fiat 500e
The Manufacturer's Suggested Retail Price "MSRP3" is $39,995. The least expensive battery electric vehicle this year is the all-new Fiat 500 hatchback - before government rebates for electric vehicles, and its availability is limited to British Columbia and Quebec, with plans for wider Canadian distribution in the future.
The electric motor produces 118 horsepower, supported by a 42 kWh battery, and the model comes equipped with a 10.25-inch infotainment screen, rain-sensing wipers, front emergency brakes, lane-keeping assist, heated seats, wireless charging, and 17-inch wheels.
In comparison, the Nissan Leaf starts at $41,748, while other options under $50,000 include the Toyota BZ4X9, Mazda MX-30, Volkswagen ID.4, Hyundai Kona EV, and Kia Niro EV. The Mini Cooper SE for this year is slightly cheaper but has limited availability before the release of the 2025 model.
Cheapest SUV in Canada: Chevy Equinox Manufacturer's Suggested Retail Price $28,945.
The Equinox features a 1.5-liter turbocharged four-cylinder engine that delivers 170 horsepower, paired with a six-speed automatic transmission.
The stated price applies to the front-wheel-drive system, with standard features including automatic high-beam headlights, front emergency brakes, heated seats, lane-keeping assist, and wireless smartphone integration.
Fuel consumption reaches 8.5 liters/100 kilometers for combined city and highway use, and you can expect a significant update and potential price increase for next year's model.
The Mitsubishi Eclipse Cross is a close competitor priced at $28,998, offering standard all-wheel drive (AWD) but with a less powerful engine than the Equinox. The only other competitor under $30,000 is the Kia Sportage, priced at $30,245 for the front-wheel-drive model.
Cheapest compact pickup truck in Canada: Ford Maverick Manufacturer's Suggested Retail Price $33,100.
This small truck contains a 2.0-liter EcoBoost turbocharged four-cylinder engine producing 250 horsepower. The base model features an 8-inch central touchscreen, keyless entry system, cruise control, under-seat rear storage boxes, a set of 17-inch steel wheels, and manually adjustable mirrors. It has a fuel consumption of 9.6 liters/100 kilometers for combined city and highway use.
The Ford Maverick earned the title of Best Overall Truck for 2024 from Autotrader in Canada due to its affordable price, practical size, and features.
Cheapest crossover car in Canada: Hyundai Venue
Manufacturer's Suggested Retail Price $20,899
With a 1.6-liter four-cylinder engine and a continuously variable transmission, this car/SUV produces 121 horsepower. Front-wheel drive comes standard, with fuel efficiency of 7.5 liters/100 kilometers.
The base model is equipped with front emergency brakes, rear passenger alert, cruise control, Android Auto and Apple CarPlay wireless integration, keyless entry, and heated seats. For those seeking more luxury, additional features include blind spot monitoring, a heated steering wheel, automatic climate control, and a sunroof.
Cheapest car in Canada: Mitsubishi Mirage Manufacturer's Suggested Retail Price $16,998
This compact hatchback is the cheapest car in Canada with a 78-horsepower automatic engine, maintaining good fuel efficiency (about 6.2 liters/100 kilometers for combined city and highway use). The base model includes electric mirrors and automatic climate control, but you have to pay more for advanced safety features.
For about an additional $2,000, there is also a new Noir Edition, which decorates the car with black metallic wheels and matching nuts, a black grille, and dark exterior touches including the mirrors and moldings.
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