For 2001, Kia introduced a new front-drive subcompact sedan, smaller and less expensive than the Sephia and Spectra. In fact, the entry-level Rio was billed as one of the lowest-priced cars sold in the U.S., starting at just $8585. Derived from the 1995-97 Ford Aspire hatchback that had been designed and built by Kia, the Rio had new four-door sedan styling and updated powertrains. Sole engine was a 1.5-liter twincam four-cylinder, driving either a manual transmission or an optional four-speed automatic. Standard equipment included a rear-window defroster, center console, and full cloth interior trim. Antilock braking was optional. Air conditioning, a rear spoiler and alloy wheels also were options. An "Upgrade Package" added power steering with a tilt wheel, full wheel covers, body-color side moldings, and visor vanity mirrors. Kia's new Long Haul Warranty was similar to Hyundai's: 5-year/60,000-mile basic, 10/100,000 powertrain, 5/100,000 rust, and 5/unlimited-mileage roadside assistance. Hyundai was Kia's corporate parent in South Korea. Competitors included the similarly budget-priced Daewoo Lanos and Hyundai Accent, as well as the Toyota Echo, Nissan Sentra, Ford Focus, and Honda Civic.