In 2005, Mitsubishi revealed the Concept-X model car at the Tokyo Motor Show and its Concept-Sportback model at the Frankfurt motor show. The new Lancer is based on these two concepts. The new Lancer was officially revealed in January 2007 at the Detroit Motor Show and went on sale in North American markets on March 2007 as a 2008 model. New Lancer features Mitsubishi’s next-generation RISE safety body.

For the United States, the new Lancer was initially available in DE, ES, and GTS trim levels. DE, ES, and GTS models are powered by a GEMA based 4B11, 2.0 liter DOHC engine producing 152 hp (113 kW) (except for California models which have been detuned to 143 hp (107 kW) to meet regulations). Transmission options include a brand new CVT, sourced from Jatco (code: F1CJA), alongside a regular 5-speed manual sourced from Aisin AI (code: F5MBB). GTS models get a 6-speed (fixed gears in sport mode) paddle shift version of the CVT.

In Canada, a fourth model (SE) was introduced to the Lancer lineup late in the model year. The SE model is a cross between the ES and GTS models. It includes the skirt package similar to the GTS, a rear spoiler, and unlike the GTS model, the SE includes a sunroof. Features not included in the SE model that are found in the GTS are the FAST key, Bluetooth hands-free cell phone interface, automatic climate control, Rockford Fosgate sound system, carbon fiber trim pieces, leather wrapped steering wheel and shift knob, and 18″ wheels.

For U.S. markets, starting with the 2009 model year, an ES-Sport version was released similar to the SE model for the Canadian market. Externally the ES-Sport is similar in appaearance to the GTS’ skirts, spoiler, mirrors, etc (with the exception of the wheels, the ES-Sport retains the ES wheelset). The ES-Sport also uses the ES 2.0 liter engine.

For 2009, the GTS is powered by a 2.4 L 4B12 engine producing 168 hp (125 kW) and 167 lb·ft (226 N·m).

The five-door hatchback version, known as the Sportback, was introduced for the Canadian market in spring 2009, and in the U.S. for the 2010 model year in late summer 2009.

The 2003 facelift, designated the CH series, introduced a heavily updated VR-X, which included new 16″ alloys, stiffer suspension, body styling kit, and gear shifter borrowed from the Lancer Evolution. In 2004, the new Lancer wagon was introduced as a direct replacement for its ageing predecessor.

In August 2005, all Lancers were upgraded to the 2.4 L 4G69 engine, producing 115 kW (154 hp) and 220 N·m (162 lb·ft) of torque. The upgraded engine also saw a change in trim levels and upgraded equipment—the ES and LS models now featured a more upmarket looking black interior, while the VR-X gained a new black grille to closer resemble the Lancer Evolution IX. The equipment levels of all models were also upgraded, with the LS and VR-X gaining climate control, and a premium audio system sourced from the luxury Mitsubishi Verada. The Exceed model was discontinued, and all updated models now used JDM sized rear bumpers instead of the larger USDM sized versions. Additionally, the wagon also saw these changes; and as of 2007, continues to be sold alongside the sedan.

The ES and LS models were given a minor facelift for the 2007 model year; this time gaining the same front grille as the US models, and putting it into line with the current corporate look—similar to that of the Colt and the locally built 380. Prior to the introduction of the all-new ninth generation Lancer, a limited edition ES model dubbed ‘Velocity’ went on sale. This package included VR-X grill, rear spoiler, leather/alcantara bolsted seats, sports pedals, 15″ OZ alloy wheels and chrome exhaust tip—all for the same price as the previous standard ES.