Mitsubishi Lancer Evolution V

The Mitsubishi Lancer Evolution V has retreated sharply in the Australian market, falling to a median of AUD $32,960 and down 16.4% over the past twelve months. This downward momentum contradicts its classification as an appreciating classic, signaling structural headwinds that warrant caution.

Transaction activity remains minimal, with only two recorded sales in the past year—a sample size that severely limits confidence in pricing signals. The illiquid market status means buyers and sellers should expect extended holding periods and limited negotiating leverage, particularly at current asking levels.

With 6,000 production units built, the Evolution V occupies the mid-ground between common and scarce, rated as highly collectible but carrying only moderate desirability in the current market. This disconnect between technical collectibility and buyer appetite suggests the model is not yet enjoying sustained demand.

The three-year projection indicates a further decline to AUD $22,635 (down 31.3%), followed by a five-year floor around AUD $20,161 (down 38.8%). These forecasts rest on minimal transaction data and reflect the car's present depreciation trajectory rather than any upturn catalyst on the horizon.

Sellers holding examples of the Evolution V should seriously weigh near-term liquidity against the risk of further erosion. The market has not demonstrated renewed interest sufficient to arrest the slide, and the scarcity of recent listings suggests either exhausted supply or owner patience running thin.