Your right - in the US market the saloon version (Jetta) is greatly favoured over the hatch (Rabbit). The standard engine is a 2.5l 5cyl which is not the VR5 unit, but a "straight" five derived from the old 2litre 115bhp GTi engine. In the context of the US where even the most basic cars have high power levels (a Honda Jazz (Fit in US) has a 1.5l base engine, for instance) this power choice makes sense.
It used to be the case that the Jetta/Rabbit/Golf was made in Mexico (cheap labour), so the dollar's weakness vs. the Euro shouldn't affect the economics.