Kia Rio Faces Possible Discontinuation in the US, Leaving Nissan Versa as the Only Option Under $20K
The Kia Rio, a popular subcompact car known for its affordability, may soon be discontinued in the United States. This move would eliminate one of the last remaining options for consumers looking for a new car priced below $20,000. According to reports from Automotive News, the current 2023 model year will be the Rio’s final year of production in the US.
While Kia has yet to make an official announcement regarding the Rio’s discontinuation, industry insiders have raised concerns about its future. This follows the similar fate of the Hyundai Accent, a subcompact car that shared a platform with the Rio. The Accent was discontinued with no plans for a follow-up model in 2022, and it seems the Rio may face a similar fate.
However, it’s worth noting that there is a possibility of a soft discontinuation, where production would continue for the 2023 models without any updates or a new model year. Another outside possibility is the introduction of a successor model, based on the new generation of the Hyundai Accent that was recently revealed for overseas markets. But as of now, there is no indication that Hyundai plans to bring the Accent back to the US market.
The potential discontinuation of the Kia Rio comes at a time when new car prices are on the rise, leaving only a few options for consumers looking for an affordable vehicle. Despite being priced below $20,000, the Rio’s sales have been lackluster, with only 26,996 units sold in 2022. This downward trend continued in the first half of 2023.
The decline in subcompact car sales can be attributed to the increasing popularity of light trucks, including crossovers and pickups. Additionally, the subcompact car segment has been shrinking in the US market. Just last week, there were reports of the Mitsubishi Mirage, another subcompact car, facing the possibility of being discontinued.
If the Kia Rio is indeed discontinued, it would leave the Nissan Versa as the sole option for consumers seeking a new car under $20,000. While there are other subcompact cars still available, most of them are now in the form of crossovers. The Mini Hardtop remains a pricier competitor in the subcompact car category.
There is a slim chance that Korean subcompact cars could make a comeback if the new generation Hyundai Accent does return to the US. Historically, the Accent has shared its platform with the Kia Rio, which could pave the way for a new model to enter the market. However, Hyundai has not given any indication of their plans, and it is unlikely that one would return without the other.
In conclusion, the Kia Rio’s potential discontinuation in the United States could leave consumers with limited options for an affordable new car below $20,000. While Kia has not made an official announcement, industry reports suggest the Rio’s current 2023 model year may be its last. This decision comes in the wake of a shrinking subcompact car segment and the growing preference for light trucks. For now, the Nissan Versa stands as the only subcompact car under $20,000, leaving consumers with limited choices in this price range.
