Yahoo Autos Kia Rio Dropped for 2024, Another Sub-$20,000 Car Bites the Dust
Kia is discontinuing the Rio in the U.S. after the 2023 model year, as reported by Automotive News.
The Rio subcompact was offered as a sedan and a hatchback, with both starting under $20,000.
It's possible that the new Kia K3 will serve as a replacement for the Rio, but it will surely be more expensive.
The Kia Rio is the latest victim in the string of affordable small-car discontinuations in the U.S. The subcompact sedan and hatchback won't return for the 2024 model year, a Kia representative confirmed to C/D.
The Rio was one of just three remaining sub-$20,000 new cars available in the U.S. for the 2023 model year. With the impending cancellation of the Mitsubishi Mirage, this will leave only the Nissan Versa as a member of this club going forward, although Nissan has not yet announced 2024 Versa information.
Through July of this year, Kia has sold 16,554 units of the Rio, a 2 percent decline compared with last year. But the Rio has never been among Kia's bestselling models, and its low prices likely mean slim profit margins. The compact Forte sedan will now be the cheapest model in the Kia lineup. It started at $20,815 for the 2023 model year; 2024 pricing hasn't yet been announced.
Kia also recently revealed a new small sedan called the K3. We expect it to serve as a replacement for both the Rio and the Forte going forward, but it's not likely to carry a sub-$20,000 starting price. Look for more information on this new model to come later this year, as it could arrive in the U.S. for the 2025 model year.
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