Not a student, but probably older than many people here. I am quite familiar with countries with very low income and the economics of it, the 19% you mentioned is too small to make an impact in pricing, wait until it goes to 60-80%. I read a study made by my employer in China on how people were living on $1/day in rural areas a few years ago, it all makes sense and it matches the examples from other countries. Just consider the car factory would be crewed by people earning $15-20k, same for suppliers of parts and you can see how a car can get cheaper. Also the cars for low income people are modestly equipped with non-essential features like displays, radio, air conditioning and people with $12k income will accept it this way.

The kind of people that live on UBI (with no other job) are not the kind of people that care about savings.