Second Generation Magna/Verada
Mitsubishi released the Second Generation Magna in March 1991, a car which cost MMAL $300 million to develop. The second generation grew compared to the first generation - being larger in every direction (130mm longer, 15mm wider and 46mm higher). The second generation also received an increase to the wheelbase of 120mm to create a larger cabin. This made the Magna similar in size to the Aussie EA Falcon and VN Commodore.
At launch, the Second Generation Magna was available only as a Sedan with a revised 2.6 Litre Astron II EFI engine mated to a stronger 4 speed automatic transaxle. The only carry over in the powertrain was the 5 speed manual. Mitsubishi reintroduced a price-leading GLX variant in November 1991 which bought back the previous generation's Astron II and four-speed automatic. A Wagon hit the market in April 1992.
In August 1991, Mitsubishi released the Verada - an upmarket version of the Magna based upon the export build of the vehicle. The Verada was the first Australian produced Mitsubishi to be fitted with a V6 engine, allowing it to compete directly with the Falcon and Commodore
The TR series Magna was the first model of the second generation and cost MMAL $300 million to develop. Like the TM the TR was initially released only as a sedan with the wagon appearing over a year later.
The TR was a larger car than the first generation being 130mm longer, 15mm wider and 46mm higher. The wheelbase also increased by 120mm. This made the Magna similar in size to the EA Falcon and VN Commodore.
The TR still used a MacPherson strut front suspension and torsion beam rear axle, although they were modified for the new body. The front suspension also included a front and rear crossmember for extra rigidity.
Initially the TR was only available in Executive, SE and Elite levels with the fuel-injected and revised Astron II. Mitsubishi however introduced a price-leading GLX model in November 1991 to compete in the fleet market - this model was fitted with the original Astron II fed by a carburettor.