In 2022, the year of sky-high transaction costs and low inventory, cars as opposed to trucks or SUVs—are your best choice if affordability is your top priority in a new vehicle. The most affordable SUVs are more expensive than comparable entry-level automobiles because of the popularity of trucks, SUVs, and crossovers, with strong consumer demand driving actual prices even higher. Customers looking at the affordable end of the auto market today might not find anything with the SUV’s rugged image, but they won’t be missing much else. That’s because cheap modern cars are nonetheless modern cars, frequently with the newest comfort, entertainment, and safety amenities. While some affordable vehicles are teeny-tiny subcompacts, others are compacts, which regulate the inflation in their pricing.
It is also palpable to say that as the world is moving closer to a more technologically advanced stage than it has ever been with the use of electric and environmentally friendly cars, most manufacturers don’t want to be left out of the fold, resulting in a higher price range in what could be formally constituted. Although there has been significant improvement in the commercial output of vehicles in recent years, making buyers get their money’s worth, the general inflation culminates in the decrease in sales of various cars in the market.
In the Nigerian automotive market, buyers tend to go for pre-owned vehicles rather than their brand new counterparts, because it is deemed readily cheaper and more convenient for them. The cost extension rate at which cars are sold in dealerships is what amounts to the circumstance of people shying away from buying brand new cars.
In 2022, there was the release of some rather affordable cars, such as the Nissan Sentra going for an estimated price of eight million naira, the Subaru Impreza suggested at a market price of seven point five million naira and the Hyundai Accent going for a minimal price of six million naira. These cars were not only affordable, but they were relatively compact and efficient based on their pricing. Although there may have been some improvements in the basic features and design, there is very little to complain about.
Looking into 2023, we can expect more from what manufacturers have been teasing the public with, from insightful images to groundbreaking and user-friendly technology, and most importantly, the practical affordability of these. Let us take a look at the most affordable cars to expect in Nigeria in 2023.
2023 Acura Integra
This car has become one that is highly anticipated, intensified by the amazing specifications and features. Take note of the Honda Civic Si, which is powered by a 1.5-litre turbocharged inline-4 making 200 horsepower. But we are not looking at the price but the technical appeal. It has been speculated that the car will go for an estimated price of nine million naira to eleven million naira, superseding other cars by this one attribute.
2023 Kia Niro
This particular car has to be one of the cheapest on the list. The Kia brand has always been known for the affordability of the cars in its lineup. The new generation of Kia Niro has been created with more interior space and design, versatile technology, and a unique overall experience. The car goes for an estimated price of nine point five million naira.
2023 GX Buick Encore
This is another great affordable find. When it comes to economic convenience, this is a go-to. The car goes for a standardized price of eight points seven million naira. Although the technical features have been released, most praise the decent fuel economy, upscale interior and wireless technology provided, but others negate this praise due to its small size and average steering.
2023 Chevrolet TrailBlazer
This vehicle has a spacious cabin, a neat and organized interior design, and an enhanced safety feature. It is another well-versed SUV, and the price makes it a perfect fit for those who like comfort, style, and eye-catching designs. The affordability of the car is why it is out on this list, going for seven million naira. It is perhaps the cheapest car on the list. Also given positive reviews on the price and features, it has received a number of criticisms due to the poor base engine and inadequate fuel economy.
2023 Hyundai Elantra
Hyundai is another car manufacturer known for its practical affordability.
The new and improved Hyundai Elantra has an average starting price of eight million naira. Much is not known about the features, as it has not been released, but it can boast of a polished exterior, an efficient fuel economy, and an innovative infotainment system. One difference between it and the 2022 model is that manual transmission has been discontinued for the N Line.
2023 Kia Sportage
Another Kia on the list? According to reviews, this particular compact crossover SUV is not only affordable but comes with a number of great features. From the capacious passenger and cargo area to the unique detailing of the design and hybrid value, it is a surprise that the car goes for an economical price of nine point three million naira.
2023 Mitsubishi Eclipse Cross
What will attract a buyer to this car is its low starting price, which goes to nine million naira. The car has relatively good features like a good polarizing headlight design and has more interior space than other competitors. This is a budget-friendly crossover for those who want a durable and comfortable car.
Chevy Bolt EV 2023
You can never go wrong with an electric car, especially for those who are wary of the price of gasoline fuel, or who just want to test out the feel of an electric car without breaking the bank. This car is for you. It is listed as one of the cheapest electric cars coming to the market, going for a price of eleven point three million naira.
2023 Toyota GR Corolla
Although no specific retail price has been listed by the manufacturer for the coming release of this car, It can be assumed by speculation and careful review that it would be one that is affordable, maybe not as economical as the aforementioned cars on the list, but online polls and reviews have estimated it to be around $30,000 (thirty thousand dollars), which is evaluated at twelve point four million naira.
2023 Lightning Ford F150
Another affordable electric car. The Ford F150 EV has been highly recommended due to its phenomenal 563 horsepower and a range of 230 miles. Lovers of electric cars will be excited by the extended battery edition. Although the highest on our price list, it is an average more economical electric car than its other pricey counterparts. This car is valued at sixteen million naira, making it one of the cheapest upcoming releases for an EV.
Usually, there are automotive brands that produce affordable compact crossovers and SUVs. The most popular and durable brands include Toyota, Kia, Hyundai, Mitsubishi, Mini Cooper, and so on. The price range of these cats mostly depends on the lineup or model. Old models are relatively cheaper than the recent ones, a good thing to look out for if the car has been pre-owned especially. The price range had been assessed to be around four to eight million naira.
This cannot be easily answered because it would depend on a particular car’s specifications. More expensive cars, arguably, have higher horsepower and base engines, but other factors also come into play. Some cheap or affordable cars have better fuel economy and interior space than high-end cars. What is important in getting any good car is what it is meant for and the lifestyle of the owner, taking into consideration the specific features of that car.
You can get any car that is suitable for your budget at Carmart. We sell both affordable and expensive cars. You can reach us via our website and other platforms.