2014 Mitsubishi Mirage will be Priced at $12,995 for the US

Mitsubishi is preparing a fresh subcompact known as the Mirage to sell in the US, and it will arrive with a base MSRP of $12,995.

The base cost will fetch a manual-transmission fitted Mirage, while spending an extra $1000 will bring a CVT to the model. Bumping up to the ES trim will be priced at $14,195 for the stick shift and $15,195 for the CVT.

Power will be received from a 1.2-liter 3-cylinder motor that generates 74 hp and 74 lb-ft of torque. One of the cheapest vehicles on the market, the Mirage will also be one with the best fuel economy, and is going to reach 37 mpg in the city and 44 mpg on the highway when fitted with the CVT.

The base Mirage model will be equipped with tilt steering, power windows and mirrors, automatic climate control, keyless entry, and a 4-speaker, 140-watt stereo with USB connectivity as standard equipment on base Mirage vehicles.

Mitsubishi previously informed that it was targeting the Chevy Spark with this vehicle, now more obvious as the 2013 Spark also begins at $12,995.

The Mirage will be available in stores this fall.