Nissan set to unleash the cheapest new car in the U.S. at under $10,000

Nissan Motors (NASDAQ: NSANY) will unveil a stripped-down version of its Versa subcompact vehicle this month at the lowest price ever for a brand-new car in the U.S. market. The new Versa won't come with power windows or air conditioning, but will retail at $9,990 -- just a few bills below ten grand. The cheapest new vehicle currently being sold in the U.S. is the Hyundai Accent.

Nissan's valiant attempt here is geared towards converting used-car buyers into new-car buyers. It's true that a car shopper can buy a decent used vehicle for $10k that will most likely have air conditioning and more interior space (and more engine power). The Mexican-made Versa will go on sale November 18 and will be priced $3,000 less than any currently sold Versa in the U.S.

Alexander Edwards with Strategic Vision asks the question I'm thinking: "Automakers seem to be trying to do two things: bring in vehicles in the lowest price range while also trying to deliver cars with some level of nobility and class and extras ... the question is, how many people are going to choose a vehicle that doesn't have air conditioning?"

That one single feature could be killer to Nissan's attempt here. Folks will buy cars with a complete lack of features -- except air conditioning. But will shoppers look at used cars with more size and convenience, or a brand new car without any features which will depreciate considerably the moment it's driven off the dealer lot? In the good news segment, the $10,000 Versa will see a fuel efficiency figure of 34 miles per gallon on the highway.