HM-Mitsubishi To Hike Prices of Mitsubishi Outlander From September 1

HM-Mitsubishi, one of India�s leading automobile manufacturers, has announced that it will be raising the prices of the Outlander 2010, from September 1, 2010. The price hike, which will be in the range of 1.5 to 2%, is primarily due to rising input costs and the appreciation of the Japanese Yen against the Indian Rupee.

Speaking about the development, Mr. Y. V. S. Vijay Kumar, Executive Vice president and head of Mitsubishi business at HML, said, "We announced an introductory price on the Outlander 2010, when we launched the product, which came with many advanced features. Since then there have been significant currency fluctuations, with substantial appreciation of the Japanese Yen against the Indian Rupee. This has resulted in huge rise in the cost of imports, which has impacted our bottom lines. Therefore, we have no choice but to pass on a marginal cost increase."

Currently priced at Rs. 19.95 lacs, the Outlander 2010 has received a tremendous response from the market in the last few months, with the company selling more than 150 units in July 2010 with order backlog of 300 nos. The company has increased the production capacity and expects to produce and sell close to 250 units in the month of August. All the customers who book the Outlander 2010, till August 31, can avail the older price (Rs. 19.95 lacs).

Currently HM - Mitsubishi Motors sells the Lancer, Cedia, Cedia Sports, Pajero, Montero and Outlander in the Indian market.

About HM-Mitsubishi:
Mitsubishi Motors Corporation ventured into the Indian market through its association with Hindustan Motors Limited, India�s India's pioneering automobile manufacturing company, 1998, to form HM-Mitsubishi Motors and launched the well-accepted Lancer in India. Over the years, HM-Mitsubishi launched other products in the Indian market, including the Pajero, the Cedia, the Montero and the previous Outlander 2008.

Hindustan Motors Limited, over the years, has equipped itself with state-of-the-art facilities for the production of passenger cars, trucks and multi utility vehicles. Hindustan Motors Limited's manufacturing facilities are situated in the states of Madhya Pradesh, Tamilnadu and West Bengal. Hindustan Motors functions with a commitment to core values such as quality, safety, and environmental care, combined with customer-oriented total solutions.

HM-Mitsubishi currently has 41 dealerships across India, including key cities like Chennai, Mumbai, Bangalore, Delhi, Ahmedabad, Pune, Hyderabad and Kolkata.

For more information, please log onto www.mitsubishi-motors.co.in