The most recent version was a subcompact car model manufactured between 2002 and 2013, sold under the Colt nameplate internationally.

In addition to these small cars, "Colt" in the Mitsubishi vernacular has been used for unrelated vehicles of various forms as discussed below.

The "Colt" nameplate was first introduced in 1962, which started as a line of small cars sold predominantly in Japan.

In New Zealand, the Colt brand ceased in favour of the Mitsubishi name in 1970, upon the release of the "Dyna-wedge" Galant model.

MHI, which had been formally dismantled after World War II, resumed operating as a single entity in 1964, but continued to use the "Colt" marque until the 1970s in Asia, and the 1980s in Europe.

In November 2002, a new Colt was released by Mitsubishi in Japan with a design by Olivier Boulay and built on the same platform as the Smart Forfour.

In 2004, the Colt was launched in Europe and Australia, with models including a 1.1, 1.3, and a 1.5-litre, fuel injected petrol engines with MIVEC as well as a turbocharged version of the 1.5.

In November 2004, a 1.5 L D-ID direct injection turbo-diesel version with turbocharger and intercooler, producing 95 PS (70 kW; 94 hp) was made available, with an option of the Allshift automated manual gearbox with electrohydraulic clutch and six gears.

MIVEC variable valve timing was also used to increase the output, upping the power dramatically from the 110 PS (81 kW; 108 hp) 1.5 MPI.

The same performance engine was also used to power the later released CZC cabrio model Colt (2005), with the more petrol-friendly 1.5 MPI available as an option.

Mitsubishi released its new Colt CZC coupé cabriolet at the Geneva Motor Show in March 2005, and the car has been on sale since 2006.

Other key features include a stiffer spot welded chassis, stiffer suspensions, improved exhaust system, improved steering mounting, body kit, 240 km/h speedometer, low profile high-grip 16-inch tires (205/45R16), and Recaro bucket seats borrowed from the Lancer Evolution VIII MR.

Incidentally, this is the same engine used in the 2004 European performance specification Colt (CZ-T), only running slightly increased horsepower figures (torque stayed the same).

The extensive modifications include a lowered ride height, a reinforcement of the rear axle, and a tighter coordination of shock absorbers and springs.

The Colt MIEV has a top speed of 150 km/h (93 mph) and a cruising range of 150 km (93 mi) on a single charge.

[citation needed] Mitsubishi used the Colt test bed to perform on-road testing to identify and resolve any problems unique to the in-wheel motor vehicle, including any deterioration in road holding and ride comfort due to increases in unsprung weight, as well as reliability and durability issues in the in-wheel motor system and its peripheral components (suspension, wheels, tires).

In 2008 it added a sporty version for the Taiwan market called "Colt Plus iO" which used the INVECS-III with 6-speed shift and changed the facelift to fit the styling in Japan.

The Taiwanese model later received a facelift changing most of its body panels, while the Colts in other markets are replaced by the Mitsubishi Mirage.

The facelifted Colts featured revised interiors (including a new stereo, air conditioning dials, instrument cluster and other various parts).

[9] In 2013, China Motor Corporation (CMC), as the dealer of Mitsubishi cars of Taiwan conducted a major facelift on the Colt Plus.

Powertrain choices include 1.5 L MIVEC engine, INVECS-III CVT transmission, 2- or 4-wheel drive for Very (LSUH1), COOL Very (LSUH2), 1.3 RX (LTPH, LSPH) models.

This gave the car a top speed of 150 km/h (93 mph) and an estimated range of 150 km (93 mi) with a 13 kWh battery pack.