MARKET ANALYSIS
Evolution (1997 to 1999)

The Mitsubishi Pajero Evolution (V55W) was produced between 1997 and 1999 as a homologation special built to qualify Mitsubishi’s factory rally car for the Paris–Dakar Rally, a competition the brand famously dominated with multiple overall victories. Unlike the standard second-generation Pajero it was based on, the Pajero Evo featured a 3.5-litre MIVEC V6 (6G74) producing around 276 hp, widened track, revised suspension geometry, flared bodywork, functional bonnet vents, and aggressive aero designed for high-speed desert stages. Only approximately 2,500 examples were built worldwide, all in right-hand drive, making it one of Mitsubishi’s rarest performance models. In the Australian market, the Pajero Evolution is highly sought after by collectors and off-road enthusiasts, valued for its Dakar pedigree, unique styling, and status as one of the most unusual and collectible homologation SUVs ever produced.
The Mitsubishi Pajero Evolution (V55W) was produced between 1997 and 1999 as a homologation special built to qualify Mitsubishi’s factory rally car for the Paris–Dakar Rally, a competition the brand famously dominated with multiple overall victories. Unlike the standard second-generation Pajero it was based on, the Pajero Evo featured a 3.5-litre MIVEC V6 (6G74) producing around 276 hp, widened track, revised suspension geometry, flared bodywork, functional bonnet vents, and aggressive aero desi…
Model years for Mitsubishi Pajero (1997 to 1999)

1997 Mitsubishi Pajero Evolution
144,035 km • Manual • RHD
🇦🇺Melbourne, Victoria
SOLD
$69,500
Auction
Feb 17, 2026
1997 MITSUBISHI PAJERO EVOLUTION
133,737 km • Manual • RHD
🇦🇺Gordon, New South Wales
SOLD
$80,000
Auction
May 31, 2022
1997 MITSUBISHI PAJERO EVOLUTION - MANUAL
191,279 km • Manual • RHD
🇦🇺Melbourne, VIC
SOLD
$45,000
Auction
Feb 09, 2023
1997 MITSUBISHI PAJERO EVOLUTION
122,824 km • Automatic • RHD
🇦🇺Sydney, NSW
SOLD
$61,500
Auction
Feb 28, 2023
1998 MITSUBISHI PAJERO EVOLUTION
155,585 km • Automatic • RHD
🇦🇺Dingley Village, VIC
SOLD
$40,500
Auction
May 24, 2023
1997 Mitsubishi Pajero Evolution
71,766 km • Automatic • RHD
🇦🇺Smithfield, NSW
SOLD
$61,000
Auction
Apr 08, 2025
1997 Mitsubishi Pajero Evolution
206,371 km • Automatic • RHD
🇦🇺Newnham, TAS
SOLD
$31,350
Auction
Apr 16, 2025