FOR the third consecutive year, Mitsubishi Motors is driving down motoring costs and upping value for money by an average 5.3 per cent overall with a raft of price reductions or added value specification changes.

Mitsubishi started the industry ball rolling on lowering UK new car prices on January 1, 2000, when it announced reductions of up to 15 per cent. The momentum was maintained on January 1, 2001, when Mitsubishi again reduced prices across selected models by up to 12 per cent.

Announcing the latest initiatives at the UK Mitsubishi motors dealer conference earlier this month, Jim Tyrrell, managing director, said: "Due to our increased sales performance again this year, we have been able to negotiate with our partners, MMC, either lower prices, enhanced specification or at minimum, no price increase at all for our 2002 model year vehicles.

"Year to date our retail sales of new vehicles in the UK are up by 38.2 per cent and we should sell nearly 22,000 vehicles this year, the third highest on record for us. Overall, the price reductions and specification changes across the range amount to an average 5.3 per cent benefit to the customer."