Cheap new cars are going extinct while $60,000 SUVs and trucks flood the market

• Last month, 17% of new vehicles sold were under $30,000, compared to 44% five years ago.
• It's a sign that auto companies are prioritizing high-profit cars over cheaper starter cars.
• It's bad news for the whole car-buying market, but especially those looking for a deal.

Automakers are abandoning entry-level vehicles, often called "starter cars" — and it's a problem not just for buyers looking for a less-expensive one amid today's sky-high interest rates, but all car shoppers.