Can You Hear The Drums Mitsubishi ?

[csv8]

Mitsubishi is cutting the price of its new 380, just six months after the model was launched, breaking the industry's "golden rule" for a new car.

The limited edition $29,990 380LE is $4500 less than the recommended retail price and it has $2500 worth of extras.

The LE adds climate-control airconditioning, Bluetooth phone system, rear spoiler, alloy wheels, cruise control, reversing sensors, chrome exhaust and fog lamps.

The 380 is considered to be the car to make or break Mitsubishi as a car-maker in Australia.

However, poor sales combined with a general downturn in the large car market, have forced Mitsubishi to cut annual production of the 380 by 5000 units and lay off a further 250 workers. The company has also announced that 380 production will cease during March.

Mitsubishi sold 719 of the 380 model last month, well short of the original forecast of 3000 a month. And that was a figure the company said it needed to achieve to survive.

Sad to say, but I think Mitsu's days are numbered.