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MITSUBISHI SCRAPPAGE SCHEME

The governement £2,000 scrappage scheme allowance is being extended from over 10 year old c\ars to 5-10 year old cars by Mitsubishi Motors. Mitsubishi's UK Sales Director Toby Marshall commented “Mitsubishi has had a big success with the £2000 Government scrappage scheme, now with more than 20% of Mitsubishi dealers’ orders coming via the scheme. To maximise the momentum, Mitsubishi decided to launch its own scheme, so Mitsubishi customers can bring their used car as young as 5Y old to any Mitsubishi dealership.” Now more than 17% new-Mitsubishi enquiries come via the £2000 scrappage scheme, and Mitsubishi says its customers can select from several low rate finance packages with periods between 12-60 Months, low deposit (starting with 10%) and APR rates from 0%. Mitsubishi secured £100m through its own financing arm to help get Mitsubishi customers into the car they want – with the help of Finance Mitsubishi and the Government new car ‘scrappage’ allowance.

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MITSUBISHI LAUNCHES ELECTRIC CAR

Mitsubishi Motors is introducing an electric plugin car in Japan. The launch is planned for July 2009, which would beat its richer rivals. Mitsubishi Cars will be leasing 1400 of the 4dr electric cars (called Mitsubishi Cars i-MiEV) to corporate and civil service buyers until Q1/10. Mitsubishi Cars plans to begin the sale of the cars to private customers from April 2010, although new car orderforms can be signed from July 2009. The introduction of the Mitsubishi Cars i-MiEV is a long stride for Mitsubishi Motors as rival giant Toyota Cars will not introduce its electric new Toyota car to Japan before 2012. Mitsubishi Cars faces quite challenging conditions to attract buyers. Mitsubishi Cars i-MiEV manufacturing cost is relatively expensive, which makes the Mitsubishi Cars i-MiEV a much higher price than existing green cars such as the hybrid Honda and hybrid Toyota. The Mitsubishi Cars i-MiEV is projected to cost 4.6 million Yen (around £30,000). Even though support from the Japanes state may reduce the price of the i-MiEV by 50%, it costs more than the Insight, which Honda retails for Y1.89 million. “Electric_car technology has to raise its game to to drive longer journies with a rapid recharge or the current cheaper hybrids will win the day,” says autoindustry analyst Mr Graeme Maxton. Maxton is director of the Singapore_Insight_Bureau. Electric cars have are struggling to win market share. Potential owners cannot drive long journies without recharging for several hours.