Mistsubishi Plans Low-Cost Cars for Emerging Markets
Submitted by Bill Belew on Saturday, 12 May 2007No Comment
Mistsubishi Motors Corp. will develop a low-priced car for emerging economies in Asia based on the automaker's fuel-efficient Colt.
For the first time in four years, Mitsubishi made money last year and now it's burning a hole in its pocket.
The price will be around 1 million ($8K) depending on the actual launch timing…and what Toyota and Nissan come up with…also in the market to produce low-priced cars so as to crack the foreign markets.
Mistsubishi also wants to develop electric and other fuel-efficient cars to go back on the offensive in existing minicar and SUV markets, like the US and Europe.
It's good to have money, eh?
Small, no-frills subcompact cars are already selling in India and Eastern Europe at prices in the $7,000 range. Now the race is on to sell new cars for even less: $3,000 and under….
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