Power windows are standard. 169hp. Automatic climate control, central locking and key fobs, Automatic emergency braking and other radar based features. Digital gauge cluster. Modern infotainment. Modern crash safety, which is really good compared to 20 years ago.
That's a lot of car for $10k in 1996 dollars.
That's ignoring the $3k in fees, taxes, and whatever scam the dealer runs.
The reason we don't see more of it is that selling one $23k Corolla to one value minded shopper can't make line go up as much as selling one $60k MEGATRUCK to one easily influenced shopper. The new car market is exclusively for people who buy new cars regularly, and are therefore willing to get very bad deals for cars. The market is driven by people who self select for bad ability to parse value.
There has been real price decrease in small cars!
Wait until you see how cars are made now.
Comparing it to other products made by machines that actually have reduced in price since 1995 like kettles, LED lights, pc components, peripherals.
Cars should be far cheaper but they're not, and that's on purpose.
Crazy to think had the federal subsidy not been cut, that car would be possible to get for around $15k. Unheard of.