Yes, something between a $500 bicycle and a $20,000 car. The barriers may be as much regulatory as anything else. In the US all cars must meet highway safety standards even if they will never be driven on the highway. I think it's even illegal to sell a car with a top speed of 35 mph.

There are some places, mostly retirement communities, where a lot of people get around by golf cart. They do the job and are a lot of fun.