In 1995, the Lancer was renewed for its sixth generation, building on the earlier model’s format. Apart from the Evo models’ continuation, it did not depart from the established Lancer formula. A sedan and wagon (Libero in Japan) were offered, with a related Mirage model. The coupé continued as the Mirage Asti in Japan, known as the Lancer Coupé elsewhere. The 1995 Lancer (Model from 1995-2002 in some countries) is more popularly known as the 1997 Lancer. A turbocharged GSR version continued to be sold until the end of the 1990s. This platform was also the basis for the Mirage, as it was known in North America and various other markets.

From 1996-2004, the Mitsubishi Carisma replaced the Mitsubishi Lancer in some markets.

It is of note, that the Lancer Evolution V was the only Lancer Evolution to gain Mitsubishi the WRC constructors championship. However, driver Tommi Makinen was able to claim four WRC driver’s championships for himself, in 1996-1999, driving Mitsubishi’s Lancer Evolution III, IV, V & VI.

In 1988, a more aerodynamic-looking Lancer was launched, following the shape of the Galant. A five-door hatchback was added to the range. The Mirage and Lancer nomenclature continued. The station wagon continued on the old platform and shape, as did, in some markets, a five-door version of the Mirage. In Australia, all models were sold as the Mitsubishi Lancer, initially designated as the CA series and from 1990 as the CB. By that time, the Lancer name was shared with the Dodge Lancer sold in North America. The sedan was sold as the Mirage Aspire in Japan.

In some markets a ‘van’ model was produced, being the three-door hatchback without rear side windows (attracting a reduced sales tax in the Dutch market).

In the Philippines, the fourth generation lancer is also known as “Lancer singkit”. “Singkit” is a Tagalog word that describes the typical almond-shape that the epicanthic fold gives the eyes of East Asians. It is a reference to the shape of the headlamps and turn signals which taper at the sides. The headlamps of the previous generation were rectangular in comparison.