Mitsubishi's range re-positioning has had the desired effect, with a reported increase in showroom traffic, and industry expert Redbook revising residuals upwards for two of the marque's volume products. This is in line with the Company's expectations.

Redbook have advised that, for example, the Mitsubishi 380 ES Series 2 has improved both its percentage retained, and actual dollar value across all time periods when compared to the original entry model 380. A similar story applies to all models in the range.

Redbook's calculations have been supported by some leasing companies when they have re-set their leasing rates as a result of Mitsubishi launching Series 2, making the 380 a very attractive proposition to fleet operators.

At the same time Redbook have also revised upwards the percentage retained for the very popular Lancer 2.4 litre MIVEC, so that it maintains its previous value.

Mitsubishi's President and CEO, Mr Robert McEniry, said at the time of the brand re-positioning that he expected the brand re-positioning and re-pricing to have a positive effect, and this is what has happened.

"The news that is coming through on the upward revision of residual values is exactly what we were aiming for with the brand re-positioning. Mitsubishi is about improving both the residual value and the life cycle value of all of its products, as well as giving its customers the best ownership experience possible. Although this is only the first step along our journey, it is a very positive re-inforcement that the market understands and believes in what we are doing," Mr McEniry said.

Mitsubishi Lancer VRX wagon