Mitsubishi plans sub-$8,500 car for Asia

While Mitsubishi just claimed its first profitable quarter in four years, its president, Osamu Masuko, says the company will now go after the potentially huge profit in untapped Asian markets with a super-affordable vehicle. If it happens, Mitsubishi would join a score of other companies with the same goal.

Nikkei Business Daily speculates the car would sell for around $8,500 and could possibly be based on the Colt, seen above.

If the company's efforts to tap into that market are succesful, Mitsubishi can plan to see many more profitable quarters.

[Source: Nikkei Business Daily via Economic Times via Rising Sun of Nihon]