Buyers in search of a cheap new vehicle are looking at a variety of all-new brands. The latest is a blast from the past, bringing back the long-gone REO badge.
When the Jeff Bezos-created Slate Auto arrived a couple years ago, it was hailed for its sub-$20K price tag. Fast forward a few years and the entry-level model is pricier but the want and need for inexpensive, but reliable transportation is only growing.
In fact, some of the potential buyers are scouring the automotive internet looking for the “next Slate.” And since the arrival of most successful automotive pipe dream ever — Tesla — it’s not a question of “if” there will be more hungry entrepreneurs trying to carve out a slice of the industry, but when.
Cheap and new
The Slate pickup and SUV.
There is at least one 26-year-old man on the planet looking for a deal that’s also cool, I’m his father and he’s currently infatuated with Dallas-based REO Trucks. Billing itself as “America’s New Affordable Truck,” REO is in the development stage, but claims its entry-level offering, dubbed Runabout, starts at $21,500. That doesn’t include any taxes and fees, of course.
For that, you get a body-on-frame pickup powered by an inline 4-cylinder engine paired the buyer’s choice of a 6-speed manual or automatic as well as mechanical 4-wheel drive. That combination nets the driver about 600 miles for a full tank of gas with the 25-gallon tank. The company also adds it’ll tow 4,500 pounds.
Ultimately it will come in three forms: the Runabout T4x, which offers two seats and two doors with a way to drop the bed sides so you can have a flat bed truck. The next step up is the T4C which features four doors and seating for five.
There is an extendable tailgate to handle large items and it comes with a $25,000 price tag. The last options is the S4C, which is an SUV with six seats, four doors, and a side-facing jump seat. Price tag? $28,500.
Gas, really?
In case you’re confused, the Runabout is gas-powered, running against the trend of new automotive startups relying on battery-electric powertrains. It’s designed to easy to maintain to keep costs low after someone buys it.
“Every new car startup in America is electric, while 90% of American buyers are not,” said Zach De Bernardi, founder and CEO of REO Industries, on the company’s website. “Those companies raised record money chasing a fraction of the market, and every American EV maker except Tesla now sits billions in the hole. We exist because of those failures, and we build for the everyday American who simply wants a vehicle that works.”
Offering a gas powertrain also helps to keep the Runabout to the company’s concept of a vehicle that is inexpensive to buy AND own. The goal, according to De Bernardi, is create a vehicle that is easy to work on by relative novices in auto repair to experienced old hands.
More Auto News
- These 29 Models Are Going Away in 2027
- A Week With the Mazda CX-9- Premium Sport
- First Drive: Kia EV3 is the Affordable EV We’ve Been Waiting For
An original 1938 REO Speed Wagon.
Blast from the Past
Yes, the REO is in honor of Ransom E. Olds, founder of Oldsmobile. The Runabout is also an homage to the first vehicle Olds produced. The REO Runabout is projected to come in three versions, with production beginning in late 2028 or early 2029. The first designs will be revealed next month, but you can put down a $25 fully refundable deposit right now.
The current competition is the Ford Maverick which carries a starting price of $28,500 and, the aforementioned Slate, which has seen its starting price rise $5,000 since its inception to $24,995. Other companies like Telo Motors offer small trucks with plenty of flexibility, but starting prices are above the $40K mark.
0 Comments