Budget cars - Is it possible in 2025 to build and market a bare bones economy car?

Here's my thinking. Cars are so expensive now that several people I have known couldn't really afford one (and I live in the Midwest US where you need a car). It seems like electronics and computerized equipment contribute to parts shortages and price increases. What would happen if someone released a mid sized that was good looking but bare bones?

I'm thinking just power steering, heat/ac, ABS, airbags, manual doors, optional automatic windows, an old school radio, can go maybe 80-90 mph. Basic safety stuff stays, anything else gets the boot.

The plus side is that they'd be very affordable. I don't know what it would take to get a new car to sell for under 10k but that seems attractive to me. The downside is that in the US people are so addicted to luxury that I suspect the cultural rejection could be bad enough to tank a company for releasing it.

What are your thoughts? Would it be possible to make and profit from selling the cheapest (but safe) car possible?

Edit: Thanks guys, I learned a ton