Here's a comparison of the 3 door or SWB Mistusishi Pajero and the 3 door Toyota Prado. The 3 door Mitsubishi Pajero was launched in 2006 in Australia but only lasted until 2009.

The main reason for the small Pajero's short life was that it didn't sell very well. This is not surprising to us because it was relatively expensive and poorly equipped. A small price reduction or a spread of models under the $40,000 AUD mark would have made this model very popular.

However those who did buy the small Pajero where rewarded with a very city friendly and fast 4wd (petrol or diesel) that could go anywhere they wanted.

120 Series Toyota Prado
VS
NS Mitsubishi Pajero 2 door

Interesting to note that the Prado 3 door has a 3000kg towing rating compared to 2500kg for the 5 door. Furthermore 3 door Prado only comes with a cylinder turbo diesel. The Pajero 3 door lower tow rating but was available in diesel or V6 petrol engines.

It is a mystery why the V6 version is not offered in 3 door Prado. After all it would result in a more refined and fast 4WD. However since the majority of Prado's sold are diesel I suspect this was a statistically based decision.

Have a read of my first impressions and Prado 1st drive report for more details on what I think about the new model. I have both Prado 5 door wagon and the 3 door drive reviews. 

These are the only two competitors in this class of car although you could consider the Jeep as an alternative. That said it is not surprising that there aren't many to choose from since they are relatively expensive compared to the 5 door versions.

It does seem strange that the 3 door SWB Pajero has been discontinued in Australia (2010) and Toyota released the 3 door SWB. Unfortunately we never managed to take a 3 door Pajero fro a drive.
 

150 Series 3 door SWB Toyota Prado
2010 $55,990 - 65,990 AUD

NS/NT 3 door Mitsubishi Pajero 
2008 $40,990 - 49,990 AUD