Having reduced prices of all its mainstream models by up to 15% in December last year, Mitsubishi Motors in the UK welcomes Mr Byers belated effort to reduce the price of new cars by 10%.

Since their price reductions in December, Mitsubishi have consistently campaigned for transparent prices. Mitsubishi have introduced a whole raft of rationalised pricing incentives for customers. These vary from model to model but include GBP1,500 of added specification, GBP1,000 cashbacks and harmonisation of prices in each range, Galant Estates the same price as Saloons, Carisma 1.6 petrol models the same price as 1.9 litre diesel versions, and automatic transmission options at the same price as manual models.

Pre December last year Mitsubishi's starting price for their UK range was GBP11,665 for a base model Colt Hatchback. Today it is GBP7,995.

Jim Tyrrell Managing Director of Mitsubishi in the UK said; "With our mould breaking first move on UK car pricing in December coupled with more recent price harmonisation initiatives, Mitsubishi's retail and fleet prices are more or less the same which is another requirement of Mr Byers. We have already implemented measures suggested in his draft report. If any further reductions on prices are needed next year these will have to come from Mitsubishi Motors as the manufacturer."

"We also welcome the end of the practise of pre-registration, something this company has campaigned against for years. Not only does it falsify the true demand in the market, it devalues the customer's investment in their car by destroying residual values. "We have a whole package of consumer offers running through and beyond the peak registration month of September so I am sure the car buying public will now return to the market - they do not need to delay that decision any longer."