Sorry Mitsubishi fans—the automaker isn’t planning a successor to the Lancer or Evo anytime soon. In fact, Mitsu is stopping the development of any and all future sedans. The company cites difficulty making a profit among one of the most—if not the most—competitive segments of the auto market.
“Sedan, in the world, is a very high competition at the moment and it’s very difficult to come up with a profit,” said Tetsuro Aikawa, president and COO of Mitsubishi Motors.
Current models, like the eight-year-old Lancer, will continue production for now. Other models like the long awaited Galant successor and ever popular Evo won’t be seeing the pavement anytime soon. Instead, Mitsubishi is turning its headlights on the development of SUVs, PHEVs, and EVs.
Plans with both Nissan and Renault have fallen through, leading to the cuts in a market where Mitsubishi isn’t able to profit. Odds are it was the smart move—less, or no, profit means less from Mitsubishi. We’re going to miss the sedans but we can’t wait to see what the company puts out with those newly available funds.