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Nissan's bonkers $9,998 price on the base Micra has apparently ignited a price war in the small car segment: Mitsubishi Canada is matching the price on the base Mirage with a $2500 rebate... for the time being, at least.

I just jumped over to GM Canada's web site... no changes yet to the Spark's pricing... but I'll be surprised if they don't respond too. With Micra selling 877 cars in its first full month -- significantly more than the Spark's & Mirage's usual monthly numbers -- the competition must be furiously doing pricing calculations.

This is big enough news that a U.S. news site, Green Car Reports, picked it up: Canada Gets Two Cars Below $10,000: Mitsubishi Mirage, Nissan Micra (I bet others will follow suit.)

If anyone else notices any gonzo price moves on other subcompacts, please post!

Ain't competition grand?

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UPDATE Jan 15/2015: Hyundai's joins the fight: $9400 base Accent