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In a vague press release today, automobile supplier Magna announced they have signed a contract with a North American based vehicle manufacturer to produce a high-power, electrified, rear-drive unit for a high-end vehicle at an unnamed brand, with production commencing "in the next couple of years". While details of the vehicle are cagey, there are some clues as to where the drive unit might end up. Based on Magna's eDS Duo, the unit will utilize 800v architecture and be capable of roughly 974 horsepower and a mind-blowing 5,900 lb-ft of torque. Comprised of 2 motors, 2 gearboxes, and 2 inverters, the drive unit is built to be placed at the rear axle, but unlike Magna's eBeam unit, is set up for an independent rear suspension. This tells us that the Magna contract is for a luxury, full-size product with rear-drive and a need for high and low range. From here, we can speculate: It's unlikely that General Motors needs such a unit as they already have the Hummer products in production, and the Escalade IQ has already been announced, so there would be no need for Manga to be circumspect about the announcement. Ditto Tesla, the CyberTruck is already in production and wouldn't need this announcement. The Stellantis STLA-Large platform is 800-volt capable, and Ram has recently been talking about adding hybrid options to the Ram 1500 series line-up over and above the RAM 1500 REV. However, we don't think a Ram 1500 would get an independent rear suspension. Could it be for an EV Grand Wagoneer? We think if Stellantis is the customer in this case, a Grand Wagoneer EV is the most likely recipient. We think Lincoln is the most likely recipient at this point. Ford's EV platform is not yet 800-volt capable. However, they are hard at work on the next generation of their EV platforms. With the rest of the industry coalescing around 800-volt architecture, we think it is unlikely that they won't go there also. Additionally, the crosstown rival Cadillac, with their new Escalade IQ, could be making Lincoln green with envy. Additionally, while building components in-house might make sense for a higher-volume model like the Ford F-150 Lightning, a lower-volume vehicle such as a Lincoln Navigator EV would make sense to outsource components to Magna for. Magna and Ford have a long-standing partnership, with Magna even setting up shop at some of Ford's facilities in Michigan. Magna already provides a significant amount of components to the F-150 Lightning. The timing sounds right for Lincoln. In May of 2021, Lincoln announced they would be working on a Navigator EV, but no date was set for release. It would also match with the product cadence at Ford for the 2026-2027 time frame. What do you think? Which U.S. manufacturer needs a low-volume, high-power, rear-drive EV unit for a luxury product?

With the average transaction of a new vehicle reaching $48,247, buying a new car is quite expensive. And while this price gets higher each year, automakers still make inexpensive vehicles. We compiled a list of 10 models that come in at under $22,000, less than half the average transaction price of a new car. Even though these are the least expensive model year 2024 new cars you can buy, most have a good set of standard features and all come with reversing cameras, Apple CarPlay, Android Auto, and USB ports as standard. These vehicles are ranked from most to least expensive. For two of them, this is your last chance to buy one new. The Mitsubishi Mirage and Nissan Versa are being discontinued after 2024. All of the pictures included are of higher trims than the base model. Manufacturers tend not to provide photos of their most basic trims. 2024 Hyundai Elantra SE Starting Base Price: $21,475 The most expensive of the top 10 cheapest new 2024 cars the 2024 Hyundai Elantra sedan. Base level SE trim starts at $21.475. Elantra features a 2.0-liter inline-four engine producing 147 horsepower and 132 pound-feet of torque. Standard front-wheel drive and a CVT accelerate the Elantra from 0-60 MPH in 8.1 seconds. The 2.0-liter engine returns 32 MPG city, 41 MPG highway, and 36 MPG combined. Alloy wheels are 15 inches with black accent pieces. Screens include a 4.2-inch gauge cluster and an eight-inch touchscreen. Safety features include forward collision avoidance, blind-spot warning, and lane-keep assist. 2024 Volkswagen Jetta S Starting Base Price: $21,435 At a base price of $21,435, the 2024 Volkswagen S is the second most expensive on this list, but also the most powerful. It comes with a 1.5-liter turbocharged inline-four producing 158 horsepower and 184 pound-feet of torque. The base Jetta comes in front-wheel-drive with a standard six-speed manual transmission, the only manual available on this list. Combined, the Jetta hits 60 MPH in a scant 7.1 seconds. This engine returns 30 MPG city, 41 MPG highway, and 34 MPG combined. An integrated light bar in the front grille, black trim around the windows, and 16-inch allow wheels come with the S trim level. Jetta S features an eight-inch digital gauge cluster and a 6.5-inch touch screen. Blind-spot monitoring, adaptive cruise control, and lane assist are standard. 2024 Nissan Kicks S Starting Base Price: $21,050 The first of Nissan's three vehicles on this list is the 2024 Nissan Kicks S crossover, at $21,050. This vehicle comes with a 1.6-liter inline-four, producing 121 horsepower and 115 pound-feet. With front-wheel drive and a CVT, the Kicks get from 0-60 MPH in 9.7 seconds. This engine returns 33 MPG highway, 31 MPG city, and 33 MPG combined. The Kicks features a chrome grille, automatic headlights, and 16-inch steel wheels with wheel covers. Both the digital gauge cluster and touch-screen infotainment systems are seven inches. Safety features include forward collision warning, automatic emergency braking, blind spot monitoring, and lane departure warning. 2024 Nissan Sentra S Starting Base Price: $20,890 Nissan's second vehicle is the 2024 Sentra S, which starts at $20,890. The Sentra S comes with a two-liter inline-four engine producing 149 horsepower and 146 pound-feet of torque. Utilizing a front-wheel drive and a CVT, the Sentra S gets from 0-60 MPH in 9.2 seconds. Fuel economy figures are 37 MPG highway, 28 MPG city, and 32 MPG combined. Exterior features include halogen headlights, a black grille with chrome accents, and 16-inch steel wheels with full-wheel covers. A 4.2-inch TFT display is in between two analog dials along with a seven-inch touch-screen. Safety features include automatic emergency braking, lane departure warning, and rear automatic braking. 2024 Chevrolet Trax LS Starting Base Price: $20,400 Chevrolet's 2024 Trax LS starts at $20,400. Powering the Trax is a turbocharged 1.2-litre three-cylinder producing 137 horsepower and 162 pound-feet of torque. With the only traditional automatic on this list, the Trax's front-wheel drive and a six-speed automatic results in a 0-60 MPH run of 8.8 seconds. Fuel mileage is 32 MPG highway, 28 MPG city, and 30 MPG combined. Standard exterior features include LED headlights, rear spoiler, and black body molding. The driver gets a 3.5-inch TFT display and an 8.0-inch infotainment system. Chevy's Safety Assistant comes with emergency braking, lane keep assist, and forward collision alert. 2024 Kia Soul LX Starting Base Price: $20,190 Kia's boxy 2024 Soul LX hatchback is the first of two Kias on the list, priced at $20,190. This model has a 2.0-liter inline-four producing 147 horsepower and 132 pound-feet of torque. With front-wheel drive and a CVT, the Soul gets to 60 MPH in 8.0 seconds. This engine will obtain 33 MPG highway, 27 MPG city, and 30 MPG combined. The Soul S comes with a black and silver grille, adaptive headlights, and 16-inch steel wheels with wheel covers. There are fully digital dials along with an eight-inch infotainment system. Safety features include lane-departure warning, forward-collision warning, and driver-attention warning. 2024 Kia Forte LX Starting Base Price: $19,990 The least expensive vehicle in Kia's lineup is the $19,990 Forte LX. Powering the front-wheel-drive Forte is the same 2.0-liter inline-four engine found in the Soul. It produces 147 horsepower and 132-pound feet and is mated to a CVT. Zero to 60 MPH clocks in at 8.1 seconds. Fuel economy is 40 MPG highway, 30 MPG city, and 34 MPG combined. High beam assist, daytime running lights (DRL), and 15-inch steel wheels with wheel covers come standard. Between the instrument cluster is a 4.2-inch TFT display along with an 8.0-inch infotainment system. The Forte has the same safety features as the Soul with lane departure warning, forward collision warning, and driver attention warning. 2024 Hyundai Venue SE Starting Base Price: $19,800 Hyundai's second vehicle on the list is the 2024 Hyundai Venue SUV. Similar to the Elantra, the base trim level is the SE. Pricing starts at $19,800. The Venue comes with a 1.6-liter inline-four ending producing 121 horsepower and 113 pound-feet of torque. Front-wheel-drive and CVT result in a 0-60 MPH in 8.5 seconds. The 1.6-liter engine returns 29 MPG city, 33 MPG highway, and 31 MPG combined. Exterior features include high beam assist (HBA), black grille, and 15-inch allow wheels. The interior comes with an eight-inch touchscreen and a 4.2-inch TFT gauge display. Lane Keeping Assist, Driver Attention Warning, and forward collision-avoidance assist are standard safety features 2024 Mitsubishi Mirage ES Hatchback Starting Base Price: $16,695 The penultimate spot for least-expensive vehicles goes to the 2024 Mitsubishi Mirage ES hatchback. Mirage ES comes with a 1.2-liter inline-three engine producing 78 horsepower and 74 pound-feet of torque, the least powerful engine here. A CVT and front-wheel drive combine to take the Mirage ES from 0-60 MPH in 10.9 seconds. This small engine achieves fuel economy ratings of 41 MPG highway, 37 MPG city, and 39 MPG combined. Headlights use halogen lights, while the tail lights are LEDs. Mirage ES rides on 14-inch steel wheels with wheel covers. Interior features include steering wheel audio controls, automatic climate control, and cruise control. There are analog dials along with a 7.0-inch infotainment system. Front collision mitigation, Active Stability Control (ASC), and Hill Start Assist (HSA) are key safety features. 2024 Nissan Versa S Sedan Starting Base Price: $16,290 As of January 2024, the least-expensive vehicle is the 2024 Nissan Versa S sedan. Versa comes with a 1.5-liter inline-four producing 122 horsepower and 114 pound-feet of torque. Powering the front wheels with a five-speed manual, the Sentra S gets from 0-60 MPH in 9.5 seconds. Versa returns 40 MPG highway, 32 MPG city, and 35 MPG combined. The exterior features halogen lights, a V-Motion grille with chrome accents, and 15-inch steel wheels with wheel coverings. Along with the Sentra, the Versa S has a small TFT display between the analog dials and a seven-inch touch screen. Versa S also includes automatic emergency braking, lane departure warning, and rear automatic braking. Pricing: 2024 Hyundai Elantra SE - $21,475 2024 Volkswagen Jetta S - $21,435 2024 Nissan Kicks S - $21,050 2024 Nissan Sentra S - $20,890 2024 Chevrolet Trax LS - $20,400 2024 Kia Soul LX - $20,190 2024 Kia Forte LX - $19,990 2024 Hyundai Venue SE - $19,800 2024 Mitsubishi Mirage ES - $16,695 2024 Nissan Versa S - $16,290 So, while the vehicle market is still trending towards large crossovers with $48,000-plus price tags, there are still at least ten options for people who want something more affordable, and you don't have to give up your favorite entertainment options and safety features to buy one.