The entry price point for the Mitsubishi Mirage has been dropped for the updated 2015 model, with the base ES variant now priced at just $11,490 - making it one of the cheapest cars on the market.

2015 Mitsubishi Mirage _ 03

The range has been simplified to two models, with the mid-range ES Sport variant having been axed. The two remaining versions - the entry-level ES and top-end LS - have both received additional equipment upgrades in addition to price drops.

The new ES gets a reduction of $1500 over the previous model - or an 11.5 per cent drop - compared to the manufacturers' list price for the 2014 Mirage (from $12,990), while the LS has dropped by $2000 (or 13.5 per cent). However, it is worth noting that transaction prices in dealerships across the country have often included on-road costs, with cars rolling out below the list price.

2015 Mitsubishi Mirage _ 06

As well as adding an emergency stop signal system (which flashes the hazard lights under hard braking), all 2015 Mirages have a new short rooftop antenna, while an all-black interior has also been adopted, and ES models now have a boot light.

The LS version now gains cruise control - previously unavailable on any model - and also sees the addition of privacy glass.

Furthering the value equation is the retained five-year, 100,000-kilometre warranty, while Mirages retain a four-year capped price servicing program with roadside assistance.

2015 Mitsubishi Mirage _ 09

The 2015 Mitsubishi Mirage is claimed to get reduced noise, vibration and harshness levels, with new sound insulation in the front and rear floor areas, dash, A-pillars and across the cowl, while new engine mounts are said to reduce noise and vibration from the 1.2-litre three-cylinder, which gets no major changes and continues to produce 57kW and 100Nm.

The 2015 Mitsubishi Mirage hatch remains available with six colours, though five of them are metallic and add $495.

2015 Mitsubishi Mirage hatch: specifications

ES:

All black interior – new

Exterior lamps with Emergency Stop Signal (ESS) – new

Short type roof antenna – new

Luggage room lamp – new

14-inch wheels

Stability control

Hill start control (CVT only)

Driver and passenger front airbags

Side and curtain airbags

Air conditioning

Bluetooth phone connectivity with audio streaming and voice control

Steering wheel with audio and phone controls

AM/FM CD player with USB and auxiliary input with front speakers only

Power door mirrors

Body colour door handles and mirrors

Power windows with driver's side auto up and down

Two ISOFIX rear seat child restraints

Three tether anchor rear seat child restraints

Child proof rear door locks

LS standard features over ES:

Cruise control – new

Privacy glass – new

Climate control air conditioning

Chrome and silver interior accents

15-inch alloy wheels

Front fog lamps

Colour key rear spoiler

High grade seat material

Four speakers (front and rear)

2015 Mitsubishi Mirage hatch pricing (plus on-road costs):

ES manual - $11,490 (-$1500)

ES CVT - $13,490 (-$1500)

LS manual - $12,990 (-$2000)

LS CVT - $14,990 (-$2000)