Mitsubishi has officially confirmed pricing for its reborn Pajero, and the numbers make one thing clear: the Japanese brand isn’t just bringing back a legendary nameplate — it’s using price as its sharpest weapon against the segment’s dominant player, the Toyota Land Cruiser.
The Pajero Is Back After a Five-Year Hiatus
After exiting production in March 2021, the Pajero returns to showrooms this December, ending a four-generation run that made it one of Mitsubishi’s most iconic models. Since its debut in 1982, the nameplate built a loyal following in more than 170 countries, with total production across four generations exceeding 3.29 million units.
Unlike the outgoing model, which used unibody/monocoque construction, the new Pajero moves to a body-on-frame layout, built on the same rugged ladder-frame chassis that underpins the current Triton pickup. Mitsubishi is adamant this isn’t simply a dressed-up Pajero Sport — the automaker describes it as a genuine flagship model, engineered around three pillars it calls “Confidence,” “Comfort,” and a new dimension for the badge: “Prestige.”
Pricing: Where the Pajero Really Stands Out
Here’s the number that matters most. The 2026 Mitsubishi Pajero range kicks off at:
- GLS five-seat – from $68,490 (before on-road costs)
- GLS seven-seat – from $69,990 (before on-road costs)
- EXCEED – from $79,990 (before on-road costs)
- GSR (range-topping) – from $84,990 (before on-road costs)
Compare that to the Toyota Land Cruiser 300 Series, which starts at $99,340 for the base GX grade, climbs to $111,820 for the GXL seven-seat, $123,510 for the VX, and tops out north of $147,000 for the GR Sport diesel — with the new performance hybrid variants pushing prices as high as $156,810 before on-road costs.
Do the math, and even the entry-level Pajero GLS undercuts the cheapest Land Cruiser by roughly $30,000. Stack the range-topping GSR against the mid-range Land Cruiser VX, and buyers are still saving tens of thousands of dollars while getting a vehicle that shares its underpinnings with a proven off-road ute platform.
Mitsubishi is clearly not trying to fight Toyota on Toyota’s turf. Rather than wading into the $120,000-plus territory occupied by the Land Cruiser 300 and the incoming Nissan Patrol, the Pajero has been deliberately positioned in the same bracket as the Toyota Prado and Ford Everest — while still undercutting even those rivals on price.
What You Get for the Money
The value proposition isn’t just about the price tag. Mitsubishi is backing the new Pajero with a conditional 10-year/200,000km Diamond Advantage warranty, along with up to 10 years of capped-price servicing and roadside assistance. The catch: owners need to complete every logbook service at a Mitsubishi dealer, with visits required every 15,000km or 12 months, or the warranty reverts to a standard five-year/100,000km term.
Under the bonnet, the launch lineup uses the Triton’s 2.4-litre twin-turbo diesel four-cylinder engine, producing 150kW and 470Nm, paired with a rugged four-wheel-drive system built for genuine off-roading rather than just badge appeal. Towing capacity is rated at 3,500kg, matching the class benchmark set by the Prado. Mitsubishi has also flagged a future hybrid variant, backed by a $681 million investment to convert its Thai production facility into an electrified-vehicle hub for both Triton and Pajero production.
Fuel economy is expected to land around 8.0L/100km combined, a figure that positions the Pajero competitively against both diesel and hybrid rivals in the segment.
Buyer Interest Is Already Strong
The pricing strategy appears to be paying off before the first car has even landed in a driveway. Mitsubishi reported more than 3,000 pre-orders in the lead-up to the official reveal, suggesting plenty of buyers were waiting for a Land Cruiser-style off-roader without the Land Cruiser-style price tag.
The Bigger Picture
Toyota’s Land Cruiser has spent years cementing itself as the default choice for buyers who want serious off-road capability, bulletproof reliability, and strong resale value — but that reputation has come with a steadily climbing price, especially with 2026 increases pushing the range past $99,000 to start and the new hybrid flagship crossing $156,000.
Mitsubishi’s bet is simple: buyers don’t need to spend six figures to get a genuinely capable, ladder-frame 4WD with a strong warranty and real towing credentials. By undercutting the Land Cruiser by tens of thousands of dollars while sitting just below the Prado and Everest, the new Pajero is positioned to scoop up value-conscious buyers who feel priced out of Toyota’s flagship — without giving up much in the way of capability.
Whether Mitsubishi can convert that pricing advantage into long-term market share against Toyota’s brand loyalty remains to be seen, but the opening move is unmistakably aggressive. The Pajero arrives in Australian dealerships from December 2026.
Disclaimer: Pricing figures are based on manufacturer list prices before on-road costs and may vary by state, dealer, and specification.
