2005 Mitsubishi Colt Preview

While the midsize markets are extremely important for profitability, if an automaker is not pulling customers into the brand

Mitsubishi needs to be competitive in the subcompact class if it wants to see long term viability. (Photo: Mitsubishi Motors North America)

family at the early stages of their new car buying curve then enticing them later is more difficult. Toyota has been the one to emulate, having sold its subcompact Tercel and then Echo models for decades. These inexpensive models lure first time buyers into the fold, allowing the brand's retailers the continual opportunity to move them up to larger, more expensive alternatives, such as Corolla and Camry, every time the customer looks to trade up.

For this reason Honda executives have publicly stated it is looking at bringing a subcompact model to North America, the importance of which has become even more evident now that Chevrolet offers its Aveo, and Pontiac its Wave in Canada. Canadian buyers also have the option of purchasing the tiny Echo Hatchback, which is nothing more than a rebadged European-spec Toyota Yaris. Mazda has also announced it will enter the North American market with a compact MPV next year.

Mitsubishi Motors North America (MMNA) needs a car like the Aveo, Echo, or Hyundai Accent and Kia Rio, to pull in first-time new car

Although unveiled in Japan in 2002, the Mitsubishi Colt is a completely new vehicle for the rest of the world. (Photo: Mitsubishi Motors North America)

buyers, and it would make sense that this car should be the recently revised Colt subcompact. No such announcement has been made, however, which seems like another major oversight on MMNA's part.

Although its Japanese introduction was in October of 2002, the Mitsubishi Colt is a completely new vehicle for the rest of the world. The Colt, a name that once graced North America's compact vehicle segment in the '80s and '90s, also available from Dodge/Eagle retailers, has been brought back to life.