Mitsubishi to Begin Sales of the i-MiEV by 619,000 Yen

Mitsubishi Motors Corporation (MMC) will begin sales of its new-generation electric vehicles i-MiEV to individuals starting April 1. MMC has been selling the i-MiEV mainly to corporations since July 2009. MMC will reduce the i-MiEV’s MSRP (Manufacturer’s Suggested Retail Price), by 619,000 yen to 3,980,000 yen.

Should the current FY 2009 national government incentives continue into FY 2010, the i-MiEV should be eligible to receive up to a 1,140,000 yen subsidy, leaving a cost to the customer of 2,840,000 yen.

As in FY 2009, the electric car i-MiEV with lithium ion batteries will continue to be sold on a maintenance lease basis. Through the maintenance lease, owning the i-MiEV is made easier for the customer as the leasing company takes care of all government incentive paperwork and inspection and maintenance of the vehicle can be taken care of precisely and with peace of mind at Mitsubishi Motors sales outlets. In addition, the lease fees reflect the low maintenance fees inherent to a minicar.

In addition, along with offering the "Mitsubishi Assist 24" 24-hour 365-day road service (unchanged from FY 2009), MMC is setting up electric vehicles charging equipment (quick-chargers and/or 100V/200V outlets) at all of its sales outlets throughout the country, providing peace of mind for i-MiEV customers.

About 4,000 electric cars i-MiEVs are planned to be sold in FY 2010; and at present approximately 2,000 pre-orders have been taken for the same period, from municipalities, corporations, as well as individual customers. In addition, MMC plans to export 5,000 i-MiEVs in FY 2010, moving forward with global rollout.

1,400 electric vehicles i-MiEVs have already been sold mainly to corporations and municipalities in FY 2009. Current i-MiEV users laud it for its environmental efficiency, its visibility, its handling inherent to a minicar, its practicality, its motive performance and stability that exceeds standard minicars, its silence and comfortable ride.

*1 Maintenance lease: A lease in which the monthly payments include some of the taxes, insurance and maintenance costs.
*2 Currently, MMC sales outlet charging points are listed on http://www.ev-life.com/. From mid-April, plans are to improve customer convenience by making it so that this information can be registered on car navigation systems via SD card.

Sales Outline

*Expected Domestic Sales Volume: about 4,000 units (FY 2010)

*MSRP: ¥3,980,000 (vehicle price including consumption tax) (Recycle fees, insurance fees, taxes outside of consumption tax*3 registration and other fees excluded)

*Electric Vehicles to be sold on a maintenance lease basis.

*3 Based on the Japanese government’s eco-car promotion system, the i-MiEV is exempt from vehicle acquisition tax and vehicle weight tax.

www.mitsubishi-motors.com