Mitsubishi has announced they are not developing a successor for the aging Lancer.

Mitsubishi has announced they are not developing a successor for the aging Lancer.

Speaking to CarAdvice at the Geneva Motor Show, Mitsubishi Motors president and COO Tetsuro Aikawa said development of an all-new sedan is not being planned and the situation is unlikely to change while he's in charge. Instead, the available funds are being directed towards SUVs, plug-in hybrids and electric vehicles.

Another reason why they won't come up with a new Lancer is because Mitsubishi estimates that it would be hard for them to make a profit in such a competitive segment. Since there won't be a new Lancer, there obviously isn't going to be a successor to the highly desirable Evo which will be phased out in the near future, following one last final edition with 480 HP (353 kW).

There was a rumor last month about Mitsubishi's plans to restart negotiations with Nissan after the original plan fell through. The report stated both parties are working on a new sedan which in Mitsubishi's case would take the shape of a Lancer successor, but now it seems that won't happen after all.

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Mitsubishi says next-gen Lancer won't happen anytime soon