The KR Verada was the first vehicle to be sold with the Verada badge. The Verada was a luxury version of the TR Magna with a V6 engine (the first large Australian Mitsubishi to be powered by the 12 valve 6G72 V6). The Verada was intended to compete head-to-head with the Holden Calais and ford Fairmont.
Both sedans and wagons were available in Ei form, while only sedans were made in Xi form.
Standard features on the Ei were power steering, power windows, power mirrors, cruise control, climate control air-conditioning, metallic paint and central locking. Strangely alloy wheels were optional.
Standard features on the Xi were the same as the Ei with the addition of two-tone paint, ETACS alarm system with immobiliser and remote entry. ABS was an optional extra.
Externally the Verada can be distinguished from the Magna by it's larger bumper bars and different grille. The rear tailights are the clear versions from the TR Magna Elite.
Internally the Verada looks the same as the TR Magna SE/Elite with it's imitation wood panelling, map pockets, map lights and centre mounted analog clock. Only the trim is different.