Mitsubishi slashes 380 price to $27,990!

MITSUBISHI Australia has again slashed prices of its 380 V6 sedan in an effort to reinvigorate sales. Today it cut $2000 off the price of its base Series II 380 ES sedan, while also taking the scalpel to VR-X, LX and GT pricing.

The entry-level five-speed manual ES now starts at $27,990, with the five-speed automatic adding $2000 without any loss of equipment.

The company has clearly sent a signal to its key large-car rivals, while also taking aim at several four-cylinder Japanese offerings.

The new pricing will be a permanent offering and is part of a new marketing and sales push to drive sales, according to Mitsubishi Australia chief executive officer, Rob McEniry.

Mr McEniry said the ES model would maintain its existing equipment levels.

The price cut represents a saving of $6500 on the ES since it was launched six months ago. When it was launched the base model was $34,490.

The VR-X, LX and GT also offer significant savings of between $1500 for the VR-X, $3000 for the LX and $3500 for the GT.

The $40,990 LS has been dropped, replaced by a sporty SX model priced at $32,990 for the five-speed manual.

The company says it has been able to deliver the cuts by trimming dealer margins in an effort to end discounting and bolster the car’s reputation.

Those buyers who have just bought a 380 will not miss out either.

In an effort to maintain buyer loyalty, Mr McEniry said the company would offer rebates to buyers who bought the 380 ES at the old price.

Up to 1500 retail buyers will be eligible for $2000 cash-back or the equivalent in goodwill from dealers.

Some fleet owners would also be eligible.

Although Mr McEniry would not disclose how much this would cost, GoAuto believes it is more than $2 million. Rebates will also vary depending on what prices had been paid.

Apart from 380 price cuts, the company has also taken the scalpel to pricing on other passenger vehicles.

Lancer prices have been trimmed $1000 across the board, with the Lancer 2.4-litre ES now priced from $19,990, down from $20,990, and the 2.4-litre Outlander ES $29,990 - a saving of $2500 off the recommended retail price.

In the past dealers nationally have run price discount campaigns on both the Lancer 2.4 ES and Outlander ES but the new entry pricing will be permanent.

As part of a new marketing campaign, Mitsubishi will also launch a new merchandising program under the banner of "It’s a revolution".

"Mitsubishi has always been known as a marque that produces well-engineered cars in virtually every market segment and as from today it will also be known as a marque that delivers the best value-for-money package in every market segment in which it competes," said Mr McEniry.

New Mitsubishi pricing

380 sedan:
ES - $27,990
ES (a) - $29,990
SX - $32,990
SX (a) - $34,990
VRX - $36,990
VRX (a) - $38,990
LX (a) - $42,990
GT (a) - $44,990Lancer:
ES sedan - $19,990
ES sedan (a) - $22,490
ES wagon - $22,490
ES wagon (a) - $24,990
LS sedan - $23,490
LS sedan (a) - $25,990
VRX sedan - $27,990
VRX sedan (a) - $30,490
VRX wagon - $30,490
VRX wagon (a) - $32,990 Outlander:
LS (a) - $29,990
VR (a) - $35,990
VRX (a) - $39,990