The Mitsubishi Lancer has been updated for the 2015 model year with lower prices and new features across the restructured range.

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A $1400 price reduction at the bottom of the range means the 2015 Lancer ES Sport five-speed manual kicks off at $18,990, while at the other end Mitsubishi has axed a whopping $7000 from the high-performance Lancer Evolution models, cutting them to $52,990 for the manual and $58,990 for the six-speed dual-clutch SST.

All 2015 model year Mitsubishi Lancer models gain mirror-mounted side indicators, new door trims and an emergency stop signal.

Additionally, the Lancer ES Sport gains new two-tone 10-spoke 16-inch alloy wheels, Ralliart cloth seat trim with contrast stitching and leather-look centre console trim. Those features are on top of the already standard sports body kit, seven airbags, climate control, and Bluetooth phone connectivity with audio streaming. The price of the ES Sport CVT is down $1650 to $20,990.

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The mid-level Lancer LS replaces the old LX. It gains new 16-inch alloy wheels, and adds a smart key with push-button start, leather upholstery, heated front seats, power driver’s seat, a 6.1-inch colour touchscreen and a reverse-view camera.

The LS manual is down $2000 to $20,990 while the CVT version is $2250 cheaper at $22,990.

Lancer ES Sport and LS variants carry over the base 110kW/197Nm 2.0-litre four-cylinder petrol engine.

The VRX makes way for the Lancer XLS. The XLS manual is $3500 cheaper than before at $26,490 while the XLS CVT is $3750 less at $28,490. Standard XLS features include 18-inch alloy wheels, sports suspension, electric folding mirrors, auto headlights and wipers, auto-dimming rear-view mirror, nine-speaker Rockford Fosgate audio system, 7.0-inch touchscreen, satellite navigation and SD card input. The XLS retains the VRX’s 125kW/226Nm 2.4-litre four-cylinder petrol engine.

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The Lancer Ralliart gains sports cloth trim with contrast stitching and sees its price fall $2000 to $3700. It continues to produce 177kW and 343Nm from its turbocharged 2.0-litre four-cylinder petrol engine, while the Evo variants carry over their 217kW/366Nm tune.

The GSR Sportback - the sole Lancer hatch available - is $1000-$1250 cheaper than before at $21,990 for the manual and $23,990 for the CVT. The GSR is powered by the 2.4-litre engine and features 18-inch alloys, sports body kit, sports pedals, smart key, auto headlights and wipers, climate control, 6.1-inch touchscreen and a reverse-view camera.

The 2015 Mitsubishi Lancer range is available across Australia from today, less than five months after Mitsubishi introduced the MY14.5 Lancer range.

2015 Mitsubishi Lancer range

Sedan:

ES Sport manual $18,990 (-$1400)

ES Sport CVT $20,990 (-$1650)

LS manual $20,990 (-$2000)

LS CVT $22,990 (-$2250)

XLS manual $26,490 (-$3500)

XLS CVT $28,490 (-$3750)

Ralliart SST $37,990 (-$2000)

Evolution manual $52,990 (-$7000)

Evolution SST $58,990 (-$7000)

Sportback:

GSR manual $21,990 (-$1000)

GSR CVT $23,990 (-$1250)