1999 Mitsubishi Lancer Evolution V

7 Bids Winner - DELBOY02
3:30 AM, 12 Jun 2025Vehicle sold
Sold for

£15,718

(inc. Buyer’s Premium)
Winner - DELBOY02
consigner image

Adam's review

Adam Rose - Consignment Specialist Message Adam

“ Fast Road Specification WRC Icon ”

A pretty much unmolested Mitsubishi Evo V is a rare thing these days, as many have been heavily modified. This one’s in lovely condition, has a great spec and a low mileage, so must surely be an appreciating classic.

Background

In the early 1990s Mitsubishi was best known for practical, reliable family cars – solid machines like the Galant, Lancer and Shogun. But tucked away within the company’s ranks was a motorsport division with bigger dreams. Their goal was to build a car that could win rallies and, in doing so, rebrand Mitsubishi as a performance heavyweight. 

What emerged was the Lancer Evolution – a humble saloon turned world-class weapon, and a machine that would transform Mitsubishi’s image for a generation.

The idea was simple. Take the lightweight Lancer body and shoehorn in the turbocharged, 2-litre 4G63 engine from the Galant VR-4, then add a sophisticated four-wheel drive system. The result was the Lancer Evolution I, launched in 1992 with a mission: homologation for the World Rally Championship. 

Mitsubishi needed to build 2,500 of them to comply with Group A regulations. The car was a hit, selling out quickly and prompting immediate demand for more.

Each new Evolution brought refinements – stronger drivetrains, sharper handling, improved cooling, and more aggressive styling. The Evo II arrived in 1994 with revised suspension geometry and better aerodynamics. 

The Evo III of 1995 added more power, a larger rear spoiler, and gained a more purposeful look. These early Evos were raw, unfiltered machines that offered staggering performance on both road and stage.

But it was Mitsubishi’s rally success that truly propelled the Evolution to cult status. Partnering with Ralliart and fielding Finnish driver Tommi Mäkinen, the company found itself in contention with the biggest names in rallying – Subaru, Ford and Toyota. 

By the mid-1990s, the Evolution was not only holding its own but dominating. Mäkinen won four consecutive WRC Drivers' Championships from 1996 to 1999, and Mitsubishi took the Constructors’ title in 1998.

As the rally success grew so did the ambition. The Evo IV, launched in 1996, was a turning point. It introduced active yaw control (AYC) – an advanced differential system that could shift torque between the rear wheels to aid cornering – and made the car more stable and capable at high speed. 

The styling took on a more aggressive edge, with bonnet vents, larger grilles, and widened arches. It was no longer a slightly tweaked Lancer. It was its own beast.

But for many enthusiasts, it was the Evo V that represented the peak of the early Evolution lineage.

Launched in 1998 the Lancer Evolution V was not just a performance upgrade – it was a statement. With wider tracks, flared arches, and a dramatically larger rear wing, the Evo V looked every bit the road-going rally car. 

Under the skin, it featured revised suspension geometry, Brembo brakes, and an upgraded turbo delivering a claimed 276bhp – though many believe the true output was higher.

The Evo V’s chassis was stiffer, the steering sharper and the handling more adjustable than ever before. The car could dart into corners with brutal precision, rotate under throttle like a go-kart, and exit with all four tyres clawing at the road. 

The combination of power, grip, and agility made it not just a fast car but a truly involving one – offering drivers the kind of feedback and control usually reserved for competition cars.

Importantly the Evo V also showed that Mitsubishi could make a performance car that was still usable day to day. While it retained a firm, motorsport-inspired ride, it had proper seats, a decent driving position, and enough room for passengers. For enthusiasts, it was a dream machine – one that combined brutal pace with real-world practicality.

In Japan and in export markets where the car was officially sold (like the UK via Ralliart), the Evo V was an instant icon. It cemented the Lancer Evolution’s reputation not just as a rival to Subaru’s Impreza WRX STI, but as a benchmark in its own right. For many, it was the Evo V that struck the perfect balance between raw aggression and refined engineering.

Mitsubishi would go on to develop four more Evolutions, each with increasing levels of sophistication and power. But many fans still regard the Evo V as the purest of the breed – offering the best combination of performance, looks, and rally-bred DNA before the cars grew heavier and more refined.

Ultimately the Lancer Evolution wasn't just a car. It was a declaration that Mitsubishi could compete with the best in the world – not only in showrooms but on the toughest rally stages on the planet. And with the Evo V they didn’t just compete. They conquered.

Key Facts


  • Low Owners
  • Raceline RL7 Wheels
  • Tein Coilovers
  • Stainless Steel Cat Back Exhaust
  • Greddy Profec B Spec II Boost Controller

  • CP9A0005619
  • 74,880 Miles
  • 1998cc
  • manual
  • White
  • Black
  • Right-hand drive
  • Petrol

Vehicle location
Bonhams|Cars Online HQ, United Kingdom

Background

In the early 1990s Mitsubishi was best known for practical, reliable family cars – solid machines like the Galant, Lancer and Shogun. But tucked away within the company’s ranks was a motorsport division with bigger dreams. Their goal was to build a car that could win rallies and, in doing so, rebrand Mitsubishi as a performance heavyweight. 

What emerged was the Lancer Evolution – a humble saloon turned world-class weapon, and a machine that would transform Mitsubishi’s image for a generation.

The idea was simple. Take the lightweight Lancer body and shoehorn in the turbocharged, 2-litre 4G63 engine from the Galant VR-4, then add a sophisticated four-wheel drive system. The result was the Lancer Evolution I, launched in 1992 with a mission: homologation for the World Rally Championship. 

Mitsubishi needed to build 2,500 of them to comply with Group A regulations. The car was a hit, selling out quickly and prompting immediate demand for more.

Each new Evolution brought refinements – stronger drivetrains, sharper handling, improved cooling, and more aggressive styling. The Evo II arrived in 1994 with revised suspension geometry and better aerodynamics. 

The Evo III of 1995 added more power, a larger rear spoiler, and gained a more purposeful look. These early Evos were raw, unfiltered machines that offered staggering performance on both road and stage.

But it was Mitsubishi’s rally success that truly propelled the Evolution to cult status. Partnering with Ralliart and fielding Finnish driver Tommi Mäkinen, the company found itself in contention with the biggest names in rallying – Subaru, Ford and Toyota. 

By the mid-1990s, the Evolution was not only holding its own but dominating. Mäkinen won four consecutive WRC Drivers' Championships from 1996 to 1999, and Mitsubishi took the Constructors’ title in 1998.

As the rally success grew so did the ambition. The Evo IV, launched in 1996, was a turning point. It introduced active yaw control (AYC) – an advanced differential system that could shift torque between the rear wheels to aid cornering – and made the car more stable and capable at high speed. 

The styling took on a more aggressive edge, with bonnet vents, larger grilles, and widened arches. It was no longer a slightly tweaked Lancer. It was its own beast.

But for many enthusiasts, it was the Evo V that represented the peak of the early Evolution lineage.

Launched in 1998 the Lancer Evolution V was not just a performance upgrade – it was a statement. With wider tracks, flared arches, and a dramatically larger rear wing, the Evo V looked every bit the road-going rally car. 

Under the skin, it featured revised suspension geometry, Brembo brakes, and an upgraded turbo delivering a claimed 276bhp – though many believe the true output was higher.

The Evo V’s chassis was stiffer, the steering sharper and the handling more adjustable than ever before. The car could dart into corners with brutal precision, rotate under throttle like a go-kart, and exit with all four tyres clawing at the road. 

The combination of power, grip, and agility made it not just a fast car but a truly involving one – offering drivers the kind of feedback and control usually reserved for competition cars.

Importantly the Evo V also showed that Mitsubishi could make a performance car that was still usable day to day. While it retained a firm, motorsport-inspired ride, it had proper seats, a decent driving position, and enough room for passengers. For enthusiasts, it was a dream machine – one that combined brutal pace with real-world practicality.

In Japan and in export markets where the car was officially sold (like the UK via Ralliart), the Evo V was an instant icon. It cemented the Lancer Evolution’s reputation not just as a rival to Subaru’s Impreza WRX STI, but as a benchmark in its own right. For many, it was the Evo V that struck the perfect balance between raw aggression and refined engineering.

Mitsubishi would go on to develop four more Evolutions, each with increasing levels of sophistication and power. But many fans still regard the Evo V as the purest of the breed – offering the best combination of performance, looks, and rally-bred DNA before the cars grew heavier and more refined.

Ultimately the Lancer Evolution wasn't just a car. It was a declaration that Mitsubishi could compete with the best in the world – not only in showrooms but on the toughest rally stages on the planet. And with the Evo V they didn’t just compete. They conquered.

Video

Overview

  • Raceline RL7 wheels
  • Tein Coil-overs
  • Greddy Profec B Spec II boost controller
  • Stainless steel cat back exhaust
  • Owner says he has no knowledge of the car having been remapped before
  • Fuel gauge does not work – the current owner resets the trip every time he fills up (and fills up again once 150 miles have been covered)
  • Current owner has had the car for 8 years 
  • Imported in 2001 (three UK keepers since then) 
  • Engine warning light randomly comes on and off – the owner has tried two separate OBD readers and neither has flagged any fault. This could well be something very simple like a lambda or O2 sensor, as the car has an aftermarket exhaust
  • Brakes are squeaky because the car is fitted with track pads
  • Interior is very standard apart from the boost controller and the head unit
  • No boot floor carpet but the spare wheel is present.

Exterior

Mitsubishi took a leaf straight out of the Ford Sierra RS Cosworth playbook when they designed the Evo V – it makes no bones about displaying its sporting intent whatsoever. 

Retiring wall flowers need not apply. With a huge rear wing, loud side stripes and bright red Raceline alloys the Evo is every inch the rally car on the road. If some performance cars are sleepers, then this one waking up the neighbourhood.

The Evo is in stunning condition and with the exception of a few slight marks on the nose of the car – inevitable when it’s this low to the ground, really – and a small scuff mark on the nearside rear wheel arch, the paintwork looks fantastic.

Those wheels are also in fine shape, with no marks that we could see, and a full set of matching Pirelli 225/40/18 tyres – vitally important on an all-wheel-drive car as differences in rolling diameters can play havoc with the four-wheel-drive system.

Interior

The interior plastics and steering wheel show signs of use and the driver’s seat bolster and base also wear some history marks, but generally speaking the interior is in good order.

This is a very business like cabin – Mitsubishi didn’t pretend this is any kind of luxury car – it isn’t, so apart from the body-hugging Recaro seats and a smaller steering wheel, there’s not too much to distinguish this from a cooking Lancer. Until you squeeze the throttle, that is.

Apart from the management light flickering on occasion (the owner thinks this might be down to him having refitted the catalytic converter for the MoT) the only other known fault in here is that the fuel gauge doesn’t work.

Mechanical

The engine bay is tidy and complete, save for the plastic cover that usually sits over the ignition coil packs in the middle of the cam cover. This is missing, but it wouldn’t be hard or expensive to replace.

The engine sounds very healthy, hardly surprising given the low mileage. And this is a rare Evo in that the owner doesn’t think it’s ever been remapped. These engines can churn out more than 400bhp quite easily if the wick is turned up, so this one has led a quiet life.

History

This Lancer Evolution V was imported into the UK from Japan in 2001. It has a current MoT certificate that runs until March 26th next year. It comes with selection of old MoT certificates too.

The current owner has had the car for eight years and bought it from a friend, so knew it well before the purchase. He says:

‘The car was in was in good nick when I bought it but I could see it had the  potential to be a real eye catcher. So I had the wheels refurbished, fitted Pirellis all round, added the stripes and gave it a good cut and polish.

‘I’ve been mainly to car meets all over the country in it and have had a great time with it, but I’ve only covered 1600 miles in eight years – and fewer recently, so I made my mind up to let someone else enjoy it.

‘I’ve never been on a track day with it but would imagine it would be great to do so. I have a few other cars so I’m not going to be toyless.

‘The overall condition is very good for a 25 year old car, the faults are all mentioned here and I can’t honestly think of any more. I recently refitted the cat for the MoT test and wonder if that has anything to do with the management light flickering, as I’ve not known it to come on in the time I’ve owned it.’

Summary

A pretty much unmolested Mitsubishi Evo V is a rare thing these days, as many have been heavily modified. This one’s in lovely condition, has a great spec and a low mileage, so must surely be an appreciating classic.

We are happy to offer this car for auction with an estimate in the range of £15,000 - £18,000.

Viewing is strongly encouraged, and this lot is located at Bonhams|Cars Online HQ. Viewings are STRICTLY BY APPOINTMENT and we are open weekdays between 10am - 12pm or 2pm - 4pm. To make a booking, please use the ‘Enquire About This Vehicle’ button on the listing. Feel free to ask any questions, or try our ‘Frequently Asked Questions’.

About this auction

Seller

Private: steve barnett


Viewings Welcome

Viewing is strongly encouraged, and is strictly by appointment. To book one in the diary, please get in contact.

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