Team-BHP - Cedia sports price dropped to INR 7,99,000

Is this a long term move or is it a sign of things to come?

I am hoping that its because the new lancer is replacing this aging model. If yes, i am further dreaming that it looks like EVO younger sibling and it should then set sales on fire since the earlier lancer was such an awesome vehicle. In fact in our house where every car is sold within 3-4 years, Lancer was the only one which stayed on for more than 6 years.

Quote:

Originally Posted by aks_karthik (Post 2698973)

Great news for Mitsubishi Lovers.
Is this price applicable through out India or for some dealers/States?

Indeed great news for Mitsubushi lovers:D The Cedia is a great car but overpiced IMO compared to the competition.
:OT Do they still sell the Lancer or has production been stopped? Because I heard from a collegue in office that they still sell Lancers as the cars are 'value for money' for taxi operators. Just wanted to clarify. Thanks.

lol: At least now we know that there is a marketing department in HM! They took around 5 years to make this decision but at least they did !!
The car will not sell no matter what they do. Once a car has flopped so badly, there is no way it can make a comeback.

Companies like HM should be forced to shutdown

This is really good news, any price reduction of any sort from any manufacturer is a welcome change. This brings Cedia in competition with City/Vento/Linea/Verna/Fiesta range and it offers some of the best in class features like Disc brakes all around which are usually not available in this segment except in the Verna.

It will be interesting to see its effect on Cedia sales and response from competition.

That's one heck of a deal. A mere 1 lakh rupees over the fully loaded variants of the Tata Manza & Toyota Etios gets you a sedan that's a lot more "complete". Heck, the cramped Fiesta Classic top-end is 50 grand cheaper.

Good option for those in the market looking at a petrol sedan. Just ensure that you hold on to it for years; the Cedia loses 50% of its value in a year.

The only thing which came to mind after reading this is "Price of used Cedias", I am pretty sure now one can beg a pre-owned example at even better price. As the prices were not mouth watering enough already.

As far as marketing goes I am yet to see any sort of communication/advertisement.

Quote:

Originally Posted by sidindica (Post 2698961)

According to the latest price list of mitsubishi, the price of cedia sports now stands at 7,99,000-fully loaded as before.

Wow! What a car the Cedia is and now, what a price it's retailing for! Great news to all Mitsubishi lovers out there. But sadly, HM has left the car in the lurch for so long that this move cannot really make much of an impact to Cedia's sales.

Quote:

Originally Posted by BANDHAV (Post 2699028)

The only thing which came to mind after reading this is "Price of used Cedias", I am pretty sure now one can beg a pre-owned example at even better price.

I couldn't agree more. The Lancer/Cedia prices in the used car market aren't that great anyway at the moment. This will only make them mouth-watering, to say the least.

Quote:

Originally Posted by sidindica (Post 2698961)

According to the latest price list of mitsubishi, the price of cedia sports now stands at 7,99,000-fully loaded as before.

Is this price Ex-Showroom Delhi only ? or is Mitsu still quoting a "one-country-one-price" as they had done many years ago?

All said and done, this is serious bang-for-your-buck. The model may be 2006-07 vintage but still has enough grunt to give competiton a run as far as performance goes. And it isn't much of a fuel guzzler as well.

Quote:

Originally Posted by GTO (Post 2699025)

Good option for those in the market looking at a petrol sedan. Just ensure that you hold on to it for years; the Cedia loses 50% of its value in a year.

Yes agree that it loses the max in the 1-2 years timeframe. But if we look at absolute despreciation, it just loses about almost as much as a Civic or less.

A 14 lakh Civic goes for 10 in Mumbai after a year.
A now 9 lakh Cedia would go for 5 in Mumbai after a year.

Similarly,
A 14 lakh Civic goes for 5 - 6 lakhs (max max ) after 5 years (2006-2007 models) which amounts to a depreciation loss of 8 - 9 lakhs.

On another note : I see Cedia following Baleno's marketing works. The Baleno's price was continously scaled down from a near 9 lakh price tab to 6 lakh. Cedia seems to be moving from 11-12ish to current 9ish and might end at 8ish before it is moved away from the assembly line.

A 10 lakh Cedia (pre the price revision now seen) sells for 2.5 -3.0 lakhs (min min) after 5 years (2006 - 2007 models) which amounts to a depreciation loss of 7.0 - 7.5 lakhs.

While we all crib about the Cedia's resale value, its still better than a Civic (another driver favorite).

Thats some crazy pricing from Mitsubishi. I own a Cedia since 2008 and this year its due for an upgrade but none of us in the house are happy about it. I would suggest this car (specially at this price) to anyone who is in market for a Petrol Sedan. Its the perfect combo of an amazing drivers car and with a fantastic rear seat.

Quote:

Originally Posted by dipen (Post 2699051)

Yes agree that it loses the max in the 1-2 years timeframe. But if we look at absolute despreciation, it just loses about almost as much as a Civic or less.

Now you know why we are lovers of pre-worshipped cars :)

On a serious note though, any car that costs over 15 lakhs is a depreciation disaster (with very few exceptions). You can get a 2 year old petrol 15 lakh car for 50% (max 60) of the price. Be it, a Laura petrol (not diesel), Toyota Altis, Honda Civic, Hyundai Sonata (especially), Honda Accord, Toyota Camry and so on. You'll see many 2008 / 2009 BMW 525s / 530ds for 25 lakhs (and less). Similarly, a 3 year old S-Class is yours for 35 lakhs, just as a Porsche Cayman is (for the same money).

The difference is : The Cedia is NOT a 15 lakh car. It's a 9 lakh sedan that loses its value terribly. Compare the resale of a Cedia to a Honda City to know what I'm talking about. If you sell the car in a year or two, I can bet you that a Honda City will actually be cheaper to own (as would the Hyundai Verna, for instance).

Quote:

Originally Posted by GTO (Post 2699025)

the Cedia loses 50% of its value in a year.

I am ready to wait and pick 2012 model @4-4.5 Lakh next year.

What they need is to bring new lancer (9th gen - baby Evo). Even without HM/Mitsu horrible marketing it will find many takers!

Look at this machine! (source: wikipedia)