Now Mitsubishi Motors aims to make a cheap car for emerging markets

Renault is already quite successful with their Dacia Logan car. Several other automakers around the world have or are developing low cost fuel efficient cars for the emerging markets like India and China.

Now, Japanese automaker Mitsubishi has been rumored to be considering plans to develop a low-priced car for emerging markets based.

This car is likely to be based on their fuel efficient model Colt. Incidentally, Mitsubishi has just turned profitable for the first time in four years for the year ended March 31. It’s the right time for them to expand their markets and launch some new exciting products.

Market sources say that the company aims to build a car that can be priced around 1 million yen ($8,315).

News sources have further said that the company is preparing to build a new plant in Russia.

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