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It definitely could be the transmission’s main pump. Without this pump working properly, it can’t create the pressure necessary to select gears via the valve-body or indeed, produce enough drive force to actually get the car to move.
But, you could also be looking at a broken valve body, faulty selector cable from the cabin to the transmission, a broken torque converter or a complete, catastrophic internal failure of the gearbox. Instead of guessing, take it to a transmission specialist who is very likely to have seen this very problem many times before.
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It could be dozens of things, but a transmission specialist should be able to diagnose it quickly. This is an older, well-known car and there’s not much a good Mitsubishi mechanic won’t be able to assess accurately.
But before you call a tow-truck, check the level of fluid in the transmission via the dipstick. If there’s no – or low – oil, you might have figured out why the vehicle won’t move. The job then becomes one of working out where the transmission fluid went, because these are sealed systems and shouldn’t need topping up between transmission services.
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Perhaps part of the reason for the car's high fuel consumption is your statement that it goes like the clappers. Drive it like that and fuel consumption can spiral. That's especially so of this model which, with its all-wheel-drive, had quite a bit more driveline friction than the front-wheel-drive Magnas.
However, 20 litres per 100km on the highway suggests there's something else contributing, so an electronic scan of the car should throw up problems like a blocked catalytic converter, stretched timing chains, or a lock-up torque converter that isn't locking up. Don't forget the basics such as tyre pressures, binding brakes and even the condition of the fuel system including the pump, filter and injectors. One or more fuel injectors which are worn and prone to dribbling when they should be shut off can easily cause fuel consumption to spike.
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* Price is based on Glass's Information Services third party pricing data for the lowest priced Mitsubishi Magna variant.
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