Mitsubishi Return to the India in 2024: Mitsubishi, a well-known name in the automotive industry, is looking to make a comeback in India. The company is exploring acquiring a stake in TVS Mobility, a popular Indian car dealership chain. This strategic move is aimed at enhancing Mitsubishi’s presence and operations in India, surpassing its previous collaboration with Hindustan Motors.
History of Mitsubishi’s in India Overview:
- Mitsubishi entered the Indian market in 1998 through a partnership with Hindustan Motors.
- They introduced the Lancer sedan, priced at ₹8.17 lakhs, which gained popularity among Indian consumers.
- In 2002, Hindustan Motors launched the Mitsubishi Pajero in India, targeting the SUV market with a price of ₹33 lakhs.
- Due to the high pricing, Hindustan Motors invested ₹12 crores in local assembly, reducing the Pajero’s price to ₹19.9 lakhs.
- Mitsubishi expanded its lineup in India with the Cedia, Montero, and Pajero Sport by 2012.
- Despite initial success, Mitsubishi’s appeal declined due to a lack of new launches or updates.
- This decline led to Mitsubishi’s exit from the Indian market in 2020.
Mitsubishi Strategic Move:
- Mitsubishi has announced its acquisition of a 30% stake in TVS Mobility, a multi-brand dealership chain in South India.
- The acquisition is valued at an estimated ₹300-500 crores.
- TVS Mobility operates dealerships for popular brands like Honda, Mahindra, and Ashok Leyland.
- TVS Mobility’s annual revenue exceeds 1 billion dollars.
- The acquisition aims to segregate the car dealership business.
- It also aims to enhance the online car buying experience.
- Additionally, the acquisition is intended to promote Japanese brands in India.
Exciting Potential SUV Launches in 2024
Mitsubishi has some exciting plans for the Indian market in 2024, with the launch of several new SUV models:
Mitsubishi Xpander 2024: Mitsubishi Return to the India
Xpander MPV: Mitsubishi is also considering launching its 2024 Xpander MPV in India. This move is aimed at challenging the dominance of the Suzuki XL6 in the MPV segment and expanding Mitsubishi’s product portfolio in the Indian market.
| Feature | Details |
|---|---|
| Description | A 7-seater SUV/MPV designed to compete with the Suzuki Ertiga. |
| Design | Features a sporty and luxurious appeal with dual split lights, 17 inch wheels. |
| Interior | Well-equipped interior. |
| Expected Price | ₹15 lakhs |
Mitsubishi Eclipse Cross 2024:
| Feature | Details |
|---|---|
| Description | A hybrid SUV rivaling the popular Creta, featuring a 1.5L turbo hybrid engine offering 150hp. |
| Pricing Strategy | Crucial for competitiveness against rivals like the Creta and Seltos. |
| Expected Price | Around ₹20 lakhs |
Mitsubishi Outlander:
Outlander Hybrid: Another key launch in Mitsubishi’s strategy is the introduction of the Outlander Hybrid. This move is strategic, as it aligns with the growing trend towards electric and hybrid vehicles in the Indian market. By offering a hybrid option, Mitsubishi aims to appeal to environmentally conscious consumers.
| Feature | Details |
|---|---|
| Description | A spacious 7-seater SUV known for its fuel efficiency and reliability. |
| Interior | Features a macho design and high-quality interior. |
| Engine | Equipped with a 2.4L hybrid engine offering over 20kmpl. |
| Expected Price | ₹30 lakhs |
In above table a concise overview of the key features and expected price of the 2024 Mitsubishi Outlander in India.
Mitsubishi Pajero Sport: Mitsubishi launching soon in India
Pajero Sport 2024: Mitsubishi is set to launch the Pajero Sport 2024 in India. This move is seen as a direct challenge to the popular Toyota Innova Crysta and aims to capture a significant market share in the SUV segment.
| Feature | Details |
|---|---|
| Exterior | Revamped with sharp front looks, 18-inch alloys, and vertical LED lights at the back. |
| Interior | Features a small LED screen, semi digital instrument cluster. |
| Engine | Equipped with a 2.4L turbo diesel engine producing 180hp. |
| Expected Price | ₹45 lakhs |
Overall, Mitsubishi’s strategic moves in 2024 indicate a strong commitment to re-establishing its presence in India and capturing a significant share of the Indian automotive market.
