Mp3 export issues with Cubase 8.0.3?

I’ve had no problem exporting mp3:s with Cubase before, but with a song I’m working on now in Cubase Pro 8.0.3 wav exports just fine, but mp3:s get sort of “squashed”, it sounds like it’s over compressed and I get an uneven and pumping volume.

Is there any option menu for mp3 exports where you can choose not to normalize or similar?

Track does not clip, and there is no limiter on track or stereo out.

I ended up importing the wave file in Logic and exported an mp3 from there without any issues. But seems very odd I’m not able to export mp3:s from Cubase.

Anyone else ever run into this?
I’m on a MacBook Pro running OSX Yosemite 10.10.5 and running through a Steinberg UR12 right now if it makes a difference.