First produced in March 1999. The TH was the third Magna in the Third Generation.
On the outside, the TH received only a minor facelift - with a new "mesh style" grille, new front bumper, taillights, tinted glass, new wheel covers and alloy wheel styles. The rear "high mounted" stop light was also changed, becoming a LED unit and placed at the top of the rear window instead of on the rear parcel shelf. The rear garnish was also changed, with Magna now written in black making it much more visibile.
The TH marked the end of the 4 cylinder Magna forever, with the 2.4 Litre Sirius engine being discontinued. Many believed that the 4 cylinder was no longer viable and was selling poorly compared to it's V6 sibling.
In addition to dropping the 4 cylinder, the 3.5 Litre 6G74 previously reserved for the Verada became the standard engine for all variants except the Executive, where it became optional (with the 3.0 Litre V6 standard). All 3.5 Litre models are distinguished with 3.5 badging on the front guards and bootlid. The automatic transmission also received revised gearing, torque convertor and shift pattern for the 3.5 Litre engine.
As with previous iterations of Magna facelifts, the TH gained even more standard equipment. A Body Electronics Model which controlled the now sophisticated safety and security features was added to all models (previously only found in Verada). A headlight timer, which turned the headlights off after a driver set amount of time after the key was removed; trip computer and and cupholders in the rear seat armrest were also added. All radio/cassette players in the Magna could have the ability to control a CD player, making it easier to add one later.
The Sports received some of the largest changes gaining leather steering wheel, leather gear knob, white faced instrument dials, chrome automatic transmission selector surround and a new traction control system. The traction control fitted to the Sports monitored steering angle in addition to lateral and linear acceleration and worked with the engine control unit to limit engine torque as required to stop wheelspin and loss of traction.
The Executive was the only model in the TH Magna line up to have the 3.0 Litre V6 as standard. The 3.5 Litre was optional. The Executive featured remote central locking with immobiliser, alarm system, power steering, central locking, trip computer and 4 speaker radio/cassette player as standard equipment. The option list for the TH Executive reads anti-lock brakes, driver side airbag, alloy wheels, cruise control, metallic paint and air conditioning. The 3.0 is in about 15-20% of TH Executive models.
It was available with both 4-speed automatic and 5-speed manual transmissions.
The Advance came standard with the 3.5 Litre engine in either automatic or manual. It comes with everything the Executive has standard along with Anti-lock brakes, dual airbags, air-conditioning, electric windows, cruise control. Optional is alloy wheels (rare), metallic paint, CD player and 6-disc CD changer. Most Advances are White in colour.
The next level up in the model chain and based upon the Advance. Being the top of the range Magna, the Altera is available only in automatic. Over the advance it has a 6 speaker single CD Player with electric antenna and metallic paint. A 6-disc CD changer is optional. The Altera LS sold poorly and production ceased in Jan 2000.
Following the success of the Sports in the TF, Mitsubishi decided to make the Sports a permanent model in it's Magna line up. As with the TF Sports, the TH included a boot spoiler and modified suspension. The Magna Sports was also only available in sedan form with both a tiptronic 4 speed automatic or 5 speed manual. It also received a leather wrapped steering wheel and gear knob. Sable (Pearlecent Black) was the most common exterior colour on the Sports.
Standard equipment includes anti-lock brakes, electric windows, air-conditioning, 4 speaker radio/cassette, parabolic headlights and traction control. Optional are dual airbags, metallic paint, CD player and 6-disc CD changer.
The Magna Advance Solara made another appearance in the TH model. As with the Advance upon which it is based, the Solara was available in both automatic and manual. From November 1999, 1500 of the vehicles were built. The Solara features metallic two-tone paint (below the doors was painted silver), parabolic headlights and a 10-disc 4 speaker stereo system.
The V6Si was another limited edition model with 1500 built from March 2000. Based on the executive, it featured a boot spoiler, anti-lock brakes, driver's airbag, 16" alloy wheels, cruise control, unique trim, 6-disc CD player. Air-conditioning remained optional. The V6Si was not available in a wagon.
The Executive LS was a run out model Executive built around June 2000. It was based on the Executive but was only available with the 3.5 Litre engine and automatic transmission. Standard equipment included anti-lock brakes, driver side airbag, cruise control, alloy wheels, 6-disc CD player and unique interior trim. This model is rare, with about 800 units produced.