The survey examines running costs for vehicles, including fuel, servicing, insurance and loan interest rates. During the 2007 survey, 37 of Australia's top-selling vehicles, across ten categories, were tested.

The Mitsubishi 380 sedan was calculated to cost just over $200 per month - cheaper than its closest rival from Toyota, which required another $17 per month to keep it running. Competitors such as the Ford Falcon and Holden Commodore added around $30 to the frugal 380 sedan's monthly cost.

But that's not all. The 380 family sedan - with its powerful 3.8-litre engine, abundant interior space and high level specifications - costs about the same to run as the medium sized 4-cylinder Honda Accord Euro sedan or the Toyota Prius hybrid hatchback. In addition, the 380 sedan actually costs a great deal less to own - on a monthly basis - than LPG variants of either Ford Falcon or Holden Commodore.

Robert McEniry, President and CEO of Mitsubishi Motors Australia Limited, welcomed the news of the 380's win. "The 380 sedan is an extremely well made vehicle which has won a number of awards since its release in 2005," Mr McEniry said.