TULSA, Okla. — Two double-lane strips of asphalt known as Riverside Drive follow the bank of the Arkansas River toward Tulsa’s downtown skyline as we mingle with commuter traffic while driving the redesigned 2012 Versa 1.6 S, Nissan’s squirt-size notchback sedan priced below $11,000.

This obviously cheap set of wheels is completely new in platform, body style, cabin size, mechanical components, powertrain and fuel economy scores — it delivers as much as 36 miles per gallon (mpg) for cruising on a highway.

To set the price tag so low typically dictates economies of scale — a small structure, a pint-size powertrain and a skimpy list of standard equipment.

Yet Nissan breaks this custom with Versa because the notchback seems substantial:  Versa’s designers pull off a magician’s trick by creating surprising cabin room with a lot of nice equipment aboard, and in the process end up with a small car that feels pleasant to drive.

Built on Nissan’s new global front-wheel drive V platform, the small-scale Versa notchback model aimed at the North American market comes together at a Nissan assembly plant located in Aguascalientes, Mexico.

The platform supports a 102.4-inch wheelbase and a tire track width of 58.3 inches front and 58.5 inches rear.

These measurements are similar to the previous design for Versa, although the new model drops 1.2 inches lower in height and pares 0.6 inches off the overall length while stretching the rear overhang 2.7 inches longer.

New Versa rolls on small (15-inch) wheels and has a body design that resembles a miniature version of Nissan’s mid-size Altima sedan.

Taut skin stretches over muscular shoulders and shapely side panels. Sleek lines from the arching profile flow down to the stubby prow fixed with a chrome-edged grille, broad air scoop and corner lamp clusters.

The windshield cocks back at an extreme angle and the arched roof tapers to a curt tail where large lamps define back corners in streaks of red.

Mechanical hardware mounts on Versa’s stiff front-wheel-drive platform, such as the suspension which installs independent MacPherson struts in front with coil springs and 23.0-mm stabilizer bar, and in back a torsion beam with 22.2-mm stabilizer bar.

The steering system adds electric power assistance, which eliminates a load of hydraulic equipment and contributes to the efficiency of Versa’s wee engine.

Brakes utilize front ventilated discs and rear drums with electronic linkage to a four-channel anti-lock brake system (ABS) and electronic brake force distribution (EBD), a traction control system (TCS) plus Nissan’s vehicle dynamic control (VDC) device which automatically checks lateral skidding on slippery pavement.

For locomotion Nissan drops into Versa’s engine compartment a dual-cam aluminum in-line-four sequential multi-point injection engine that displaces 1.6 liters and adds continuously variable valve timing (CVVT).

The four-cylinder plant generates 109 hp at 6000 rpm and 107 lb-ft of torque at 4400 rpm.

Standard gearbox for the price-leader Versa 1.6 S edition is an easy-shifting 5-speed manual transmission.

Other issues (SV, SL) employ Nissan’s Xtronic continuously variable transmission (CVT).

Using the CVT, Versa achieves fuel consumption numbers of 30 miles per gallon for in-town driving and 38 mpg at speed on a highway.

With the manual shifter, Versa scores 27/36 mpg City/Highway.

Nissan stuffs Versa’s cabin with air bags. There are dual-stage frontal air bags plus side-impact air bags for the front seats and curtain-style side air bags mounted in the roof above front and rear outboard seats.

Versa’s cabin is a generous space which defies the nature of subcompact-class cars. Plan of the cabin consists of two bucket seats on the front row flanking a console and a second row bench with space for three. And trunk volume tallies to 14.8 cubic feet.

The price-leader Versa 1.6 S stocks the manual 5-speed transmission, 15-inch steel wheels, air conditioning, height-adjustable driver seat, trip computer plus an audio kit with AM/FM/CD and twin speakers. Adding the optional CVT also nets cruise control, two more audio speakers and a lamp in the truck.

Versa 1.6 SV with the CVT and cruise control also carries upgraded cloth upholstery, Fine Vision instruments, a keyless entry device and power controls for windows and exterior mirrors.

Versa 1.6 SL with CVT and cruise control also brings 15-inch aluminum-alloy wheels, foglamps, variable intermittent wipers, 60/40-split folding rear seatback, steering wheel audio controls, Bluetooth connectivity, an upgraded audio system and USB/iPod plugs.

And an optional tech package for the 1.6 SL installs a navigation system with 5-inch color touch-screen display plus XM satellite radio.

MSRP figures for the 2012 Nissan Versa 1.6 sedan chalk up at $10,990 (S MT5), $13,120 (S CVT), $14,870 (SV CVT) and $15,560 (SL CVT).

2012 NISSAN VERSA SUBCOMPACT SEDAN SPECIFICATIONS

• Description: Subcompact 4-door Sedan
• Model options: 1.6 S, 1.6 SV, 1.6 SL
• Wheelbase: 102.4 inches
• Overall length: 175.4 inches
• Engine size: DOHC 1.6-L I4/CVVT
• Transmissions/speeds:
  • Manual/5
  • CVT/Xtronic
• Rear/front drive: Front
• Steering: EPS
• Braking: Power disc/drum, ABS/EBD/BA/TCS/VDC
• Air bags: 2 (front), 2 (side), 4 (side curtain)
• EPA mileage est. city/hwy.;
  • MT5: 27/36 mpg
  • CVT: 30/38 mpg
• MSRP range, est.: $10,990 to $15,560