The Cheapest New Car in America
What’s the most affordable new car you can buy in the United States right now? The answer might surprise you. Forget the Mitsubishi Mirage or Nissan Versa; the real bargain is a four-door luxury sedan that boasts cutting-edge technology and a unique powertrain: the Toyota Mirai.
As reported by CarsDirect, Toyota is offering massive discounts on its 2024 Mirai models. Southern California buyers are seeing price drops of up to 70%, bringing the cost of a Mirai down to under $17,000. To sweeten the pot, Toyota is including $15,000 worth of free fuel.
The Hydrogen Dream?
The Mirai was touted as Toyota’s herald for the age of hydrogen transportation. However, it now finds itself firmly in the bargain bin. Demand for hydrogen-powered vehicles never truly materialized, partially due to the lack of accessible fueling stations across the country.
Sales figures paint a clear picture. In 2024, only 499 Mirai vehicles were sold in the US, a significant drop from the 2,737 sold in 2023. These considerable discounts have been applied to the 2024 models. It’s easy to assume that as the calendar flipped to 2025, the 2024 models became less appealing.
In Southern California, potential buyers can save up to $35,000 on a Mirai XLE, which usually retails around $51,325. After deductions, the price drops to around $16,325, making the Mirai the most affordable new car on the market. You gain a lot more vehicle for your money compared to the next cheapest rival, the Nissan Versa, which starts at $18,330.
If a more luxurious experience is desired, the Limited trim is available, starting at $68,250, with available discounts of up to $43,000. This makes the final price around $25,000.
These deals are offered through Toyota’s Finance Subvention Cash program, which provides an attractive 0% APR with special financing. Additionally, the $15,000 of free hydrogen fuel is another incentive. However, this deal is almost exclusively available in Southern California, so act accordingly.
The Catch: Hydrogen Infrastructure
While you don’t have to live in California to take advantage of the deal in the US, you’ll likely struggle to drive it far outside the state. The Miria has a range of around 402 miles, and the availability of hydrogen fuel is extremely limited.
The Department of Energy lists just 54 hydrogen filling stations in the United States. 53 of these stations are in California, with one in Hawaii. Additionally, some stations are currently out of service due to supply disruptions.
The Fuel Cost Analysis
Let’s calculate the value of Toyota’s $15,000 fuel offer. Last year, hydrogen prices reached approximately $34/kg. The Mirai achieves around 72 miles per kilogram of hydrogen, so that offer allows for approximately 441 kg of hydrogen, enough for just over 31,000 miles.
This arrangement does come with some major caveats: You only have three years to use the free fuel.
Final Thoughts
In short, these conditions create an unusual situation. The Mirai can be purchased at a very low price, with fuel included. It’s also true that these cars have poor resale value. Potential buyers will not likely line up to buy yours because the vehicle is mainly confined to California and the western edges of Nevada and Arizona.
This may be the greatest deal out there, but does the hydrogen future have a plan and can it be executed? This is an interesting state of affairs for those shopping for a new car.
