Nissan’s most affordable model in the U.S., the Versa Sedan, has been completely redesigned for the 2012 model year, gaining new technology, a more powerful yet fuel efficient engine and a very low pricetag.

How low? The 2012 Nissan Versa Sedan, on show this week at the 2011 New York Auto Show, comes onto the market with a $10,990 starting price.

For this, you get a five-seater sedan packing a 1.6-liter four-cylinder engine with 109 horsepower and 107 pound-feet of torque on tap. Transmission options include a conventional five-speed manual or an Xtronic CVT.

This latter unit features a transmission ratio of 7.3:1, which is broader than those of conventional CVTs and even typical seven-speed automatic transmissions. Friction is reduced by about 30 percent, weight by about 13 percent and overall size by about 10 percent versus the previous Versa Sedan’s CVT.

The end result, Nissan claims, is a fuel economy of 30/37 mpg city/highway and 33 mpg combined when equipped with the CVT. Opt for the five-speed manual and you’re looking 27/36 mpg city/highway and 30 mpg combined.

Enjoy our live photos and then hit this link for our full coverage of the 2011 New York Auto Show.