The Versa came into existence because of the economic times. Therefore it has been cheap for the hard times.
I also feel the next Versa will go upmarket. Nissan's chief designer has admitted the sedans are weak in the styling department and it's time for a change.
Also another fact people seem to overlook is that consumers are not really buying the cheapest models, they are buying the higher trim levels when we look at transaction prices. $15k average transaction price last time I checked for the Versa sedan.
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