Next-Generation Mitsubishi Lancer in The Works?

Though the Japanese carmaker is looking to partner-up with another carmaker for the next-generation of the compact car, it is also "doing an internal design of the vehicle." Swearingen explained, "We're running parallel because we cannot wait any longer to see if a partnership will work out. If it falls through then we're another year behind."

Speaking of potential partnerships, Mitsubishi's potential association with French carmaker Renault for a compact car partnership is known to have come to naught. With that being said, Swearingen confirmed that the company is in discussion with another automaker. Though he refused to divulge any details about who that might be - word has it that it may be Nissan - Renault's alliance partner.

Even if Mitsubishi finds a partner this year, Swearingen says the new Lancer would still take 18 months - two years to arrive in the market.

While there is no word if the car will make it to India, we'll keep our fingers crossed in the hopes that Mitsubishi decides to bring the new-generation model to the country.