Lexus said this week they have no intentions on releasing a $30,000, despite recent rumors.

Jeff Bracken, Lexus group vice president and general manager, was interviewed at the 2014 Detroit Auto Show about the rumor, according to Edmunds.

"You won't see anything come from Lexus that goes below $30,000," said Bracken. "The least expensive vehicle that we have is the 2014 Lexus CT 200H, which has an MSRP of about $32,000. From our point of view, vehicles that are priced under $30,000, for us, that is Toyota, Scion."

Bracken also said there are no plans to expand the CT line currently.

If Lexus did release a $30,000 model they'd be able to compete with vehicles like the 2014 Mercedes-Benz CLA250 OR THE 2015 Audi A3, according to Edmunds.

The CLAS250 has been a popular model for Mercedes, selling around 14,000 vehicles since Sept. 2013.

In comparison, 15,000 CT 200H units were sold during the entire 2013 calendar year.

Non-hybrid options are not available for the 200H, according to Lexus.

The base CLA250 stickers for $30,825, including a $925 destination fee. The base 2014 Lexus CT 200h, a five-door hatchback, stickers for $32,960 including a $910 destination fee.

Bracken said the CT 200H was designed to "bring folks into the Lexus family," according to Edmunds.

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