15 Best Fuel Efficient Cars Under $30K
In this article, we discuss the 15 best fuel-efficient cars under $30K. To skip the detailed analysis of the automotive industry, go directly to the 5 Best Fuel Efficient Cars Under $30K.
The automotive industry is changing rapidly due to the fast pace of technology growth. Over the last few years, oil and gas prices have been quite volatile, and there has been a growing trend of moving toward alternative fuel sources to power our vehicles. According to one of our reports from 2023, the International Energy Agency (IEA) predicted 14 million electric vehicle (EV) sales in 2023. While the sales didn’t exactly hit IEA’s target, it certainly came close with 13.6 million EV sales worldwide. Reuters reported that EV sales growth was 31% in 2023, compared to 60% in 2022.
In the US, EV sales growth was quite significant, and a record 1.2 million units were sold in the country in 2023. The US also has one of the most extensive charging infrastructures in the world. By 2022, the US had installed 6,300 fast chargers, reaching a total of 28,000 by the end of the year, and in 2023, a plan for the installation of 500,000 electric vehicle chargers was announced by the government.
The slowdown in sales growth can be mainly attributed to the high interest rate environment and the high price of installing new technologies in the vehicles. Despite that, technological advancements such as autonomous driving and AI technologies developed by companies like Sensigo are expected to be quite beneficial for the industry. Sensigo is a California-based startup that uses artificial intelligence for car repair purposes.
The growth of the EV industry has provided many new companies to make a mark in the automotive industry. However, older and well-established companies like Honda Motor Co., Ltd. (NYSE:HMC), General Motors Company (NYSE:GM), and Toyota Motor Corporation (NYSE:TM) have entered the race to capture the EV market share. Additionally, these companies have also dominated the internal combustion engine (ICE) industry for years, which means they have loaded up on a lot of cash to make the transition toward the EV industry easier when the time is right.
According to our previous report, the electric vehicles industry is expected to reach $1.57 trillion by 2030 and grow at a compound annual growth rate of 22.1%. These big names are already trying to carve out a big chunk of the market share. Furthermore, they are also producing vehicles that are pocket-friendly.
There are no better fuel-efficient cars than EVs and hybrids, but their price tag makes them harder to buy. There are 15 best fuel-efficient cars in our current list, yet we could have easily made a list for 30. Compared to that, there are only a handful of electric vehicles that fall at or under the price tag of $30k. General Motors Company (NYSE:GM)’s Chevrolet Bolt EV, Chevrolet Bolt EUV, and Chevrolet Equinox EV (base trim) have manufacturer’s suggested retail price (MSRP) of $30k or below, along with some other vehicles by Nissan and MINI. Additionally, Honda Motor Co., Ltd. (NYSE:HMC) and Toyota Motor Corporation (NYSE:TM) are offering hybrid versions of their flagship vehicles that have a starting MSRP of just a little over $30K.
Tesla, Inc. (NASDAQ:TSLA) produces all-electric vehicles, which are some of the best fuel-efficient cars, and has cut down the price of its vehicles several times. People with the above-mentioned budget cannot afford any vehicle produced by the company.
An auto warehouse filled with newly acquired used cars.
Our Methodology
For this article, we made an extensive list of ICE cars with the MSRP of under $30k and then checked their fuel economy from several sources including their manufacturers' websites, the official US fuel economy information website, and several others. For each car’s fuel economy information, we took a mean of the data we gathered from our sources. Our methodology is based on the reviews of several sources that authentically review vehicles. We avoided basing the methodology on reviews posted on public discussion forums such as Reddit because personal experiences of people vary from each other. For example, one individual mentioned that their Honda Civic averages 36 mpg while another person claimed that they managed to get 29 mpg. The difference was between their route and driving style.
Next, we chose the 15 best fuel-efficient vehicles under $30k based on each car’s combined fuel economy (highway and city) and price. For example, if two cars had a combined fuel economy of 31 miles per gallon, we chose the car with the lower starting MSRP. It is important to note that MSRP excludes tax, title, license, dealer fees, and optional equipment.
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Best Fuel Efficient Cars Under $30K
15. Chevrolet Malibu
Miles Per Gallon: 31
Starting MSRP: $26,195
Chevrolet is an American automobile division of General Motors Company (NYSE:GM). The Chevrolet Malibu is a midsize car, and its base trim comes with a 1.5L turbo 4-cylinder engine and a continuous variable transmission (CVT) with MSRP starting from $26,195 and going up to $32,595. Three out of four Chevrolet Malibu trims have an MSRP of under $30,000, according to the company’s website.
In 2023, General Motors Company (NYSE:GM) delivered 130,342 units of Chevrolet Malibu in the US, up 12.9% from 2022 deliveries.
General Motors Company (NYSE:GM), along with Honda Motor Co., Ltd. (NYSE:HMC) and Toyota Motor Corporation (NYSE:TM), produces some of the best fuel-efficient cars.
14. Mazda3
Miles Per Gallon: 31
Starting MSRP: $24,170
Mazda 3 is one of the fastest-selling cars and is manufactured by the Japanese auto manufacturer Mazda Motor Corporation. Its base trim, four-door front-wheel drive version comes with a SKYACTIV-G 2.5 DOHC 4-cylinder engine producing around 191 horsepower at 6,000 rpm.
Mazda 3 has an estimated fuel economy of 28 mpg in the city, 37 mpg on the highway, and 31 mpg combined.
Mazda 3 has six trims in the US with a base trim MSRP of $24,170, going up to $35,450 for a 2.5 turbo premium plus version that comes with a 250 hp, SKYACTIV-G 2.5 Dynamic Pressure Turbo engine.
13. Kia Soul
Miles Per Gallon: 31
Starting MSRP: $20,190
South Korean company Kia Corporation started production of the Kia Soul in 2008. It is a crossover SUV that comes with 1.6L Gamma II MPi, 1.6 Gamma II T-GDi, and 2.0 Nu MPi engines producing 120 hp at 6,300 rpm, 201 hp at 6,000 rpm, and 148 hp at 6,200 rpm, respectively. Kia Soul’s base trim with 6-speed automatic transmission has an average combined fuel economy of 31 mpg. While Kia Soul has a starting MSRP of $20,190, its premium trim goes up to $24,490.
12. MINI Cooper
Miles Per Gallon: 32
Starting MSRP: $26,800
MINI is a British auto manufacturer owned by the German luxury vehicle manufacturer BMW. MINI’s base trim, Cooper Hardtop 4 Door, starts at an MSRP of $26,800 and comes with a 3-cylinder 1.5L engine, producing 134 horsepower at 4,400 rpm. MINI Cooper has a combined fuel economy of 32 mpg, making it the 12th best fuel-efficient car under $30k.
11. Toyota Camry
Miles Per Gallon: 32
Starting MSRP: $26,420
Toyota Camry is the second most popular sedan manufactured by Toyota Motor Corporation (NYSE:TM). The Camry is one of the most durable and family-friendly cars in the world. On top of that, its LE and SE trims are quite affordable and have an average combined fuel economy of 32 miles per gallon.
10. Nissan Altima
Miles Per Gallon: 32
Starting MSRP: $25,730
Nissan Altima is 10th on our list of best fuel-efficient cars under $30k and is quite popular among US consumers due to its low price, good fuel economy, and comfort. Altima’s base trim comes with a starting MSRP of $25,730 and has a combined fuel economy of 32 mpg.
Almost all of the Nissan Altima trims come with a 2.5-liter four-cylinder engine that generates 188 horsepower. Altima’s premium trim, SR VC-Turbo, has a 2.0-liter four-cylinder turbocharged engine producing close to 250 horsepower. Although the turbocharged trim has good fuel economy, its starting MSRP is approximately $36,000.
9. Honda Accord
Miles Per Gallon: 33
Starting MSRP: $27,895
Honda Accord debuted in 1976, and since then, it has been one of the most popular cars in the world. Honda Motor Co., Ltd. (NYSE:HMC) introduced its 11th generation Accord in November 2022 for the 2023 model. The 11th-generation modification was made to integrate the innovative hybrid powertrain system effectively. The new Honda Accord comes in both hybrid and internal combustion engine (ICE) versions. The ICE version comes with a 1.5-litre turbo engine and is offered in the car’s LX and EX trim levels.
8. Volkswagen Jetta
Miles Per Gallon: 34 mpg
Starting MSRP: $21,345
Volkswagen Jetta has a starting MSRP of $21,345 and goes up to slightly above $30k. However, for fuel economy, its base S trim is most suitable and comes in a 6-speed manual and an optional 8-speed manual transmission. Its 1.5L four-cylinder engine produces 158 hp. Volkswagen Jetta is quite popular among its fans for its engine power and handling. Some of its old models are also very easy to tune and modify.
7. Nissan Sentra
Miles Per Gallon: 34 Mpg
Starting MSRP: $20,890
Nissan is a compact car produced by the Japanese manufacturer Nissan Motor Co. Ltd. With a starting MSRP of $20,890, it is one of the cheapest cars on our list of best fuel-efficient cars under $30K. The base trim of the Nissan Sentra comes with a 2-liter DOHC 16-valve 4-cylinder engine that produces 149 hp at 6,400 rpm. Nissan Sentra ranks 7 on our list of best fuel-efficient cars under $30k.
6. Kia Forte
Miles Per Gallon: 34
Starting MSRP: $19,090
Kia Forte, also known as K3, Forte K3, and Cerato, was launched in 2008 and has five trims, including the base trim (LX), LXS, GT-Line, GT-MT, and GT. The LX base trim has a fuel economy of 34 mpg. The compact sedan is equipped with either of two engines: a 2.0-liter four-cylinder with 147 horsepower or a turbocharged 1.6-liter four-cylinder with 201 horsepower. According to the company’s website, all five Kia Forte trims have MSRPs under $26,000.
Apart from General Motors Company (NYSE:GM), Honda Motor Co., Ltd. (NYSE:HMC), and Toyota Motor Corporation (NYSE:TM), the South Korean auto manufacturer Kia Corporation has also produced some of the best fuel-efficient cars under $30K.
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Disclosure. None. 15 Best Fuel Efficient Cars Under $30K is originally published on Insider Monkey.