MITSUBISHI is taking the most drastic price-cutting action in the company’s history following a dramatic slump in its sales last month.

Aug 18 2008 Steve Hughes

MITSUBISHI is taking the most drastic price-cutting action in the company’s history following a dramatic slump in its sales last month.

The company's UK importer is slashing prices throughout its range by up to £5,000 after registrations crashed in July by more than 40 per cent.

Other car companies that suffered similar declines are reducing prices too.

In the case of Mitsubishi the greatest savings are on the biggest and thirstiest models including the Shogun, Grandis and L200 models, which get reductions of £5,000, £4,000 and £3,000 respectively.

It addition to the unprecedented price cuts there is also free automatic transmission and low finance on offer on some models in a bid to stimulate sales.

The company is targeting its slowest sellers and those that are most likely to appeal to buyers who are downsizing, starting with the Colt CZ1 in both three and five door guises, which fall by £1,000 to an all-time low of just £6,500.

Stocks of previous-model Lancers are to be shifted by knocking £1,500 off the list price of automatic versions of the Equippe and £2,000 off the Elegance auto.

This makes the new price for the Lancer Equippe just £8,499.

The revised L200 Raging Bull double cab pick-up loses £2,200 on manual models whilst automatics become the same price as the manual, representing a total saving of £3,000.

All Grandis people-carriers are reduced by £4,000, making a Grandis 2.4 Classic manual just £13,000.

The biggest reductions are to be found on the Shogun SUV with a whopping £5,000 off long wheelbase Elegance and Diamond models, bringing down the list price of the Shogun LWB Diamond automatic to £27,700.