The Nissan Versa is offered in hatchback and sedan body styles and is an all-new product for the nameplate in 2007. It competes in the fast-growing Compact Basic segment that will see new entries from virtually every manufacturer, import and domestic. The hatchback went on sale in the summer of 2006, and the sedan followed in late 2006. The Versa sells for around $12,000.

Now that the average price of a new vehicle is more than $20,000 and gas prices continue to remain high, buyers are looking for low-priced, fuel-efficient alternatives. Manufacturers are responding in force with entry-level hatchbacks and sedans, and Nissan’s new Versa fits the bill well. It has been placed down-market from the Sentra in terms of price and equipment, but offers buyers the fuel economy they’re looking for, with an estimated combined 38 mpg when equipped with the Xtronic Continuously Variable Transmission (CVT).