Mitsubishi Motors Reports Best August Sales Ever

CYPRESS, Calif., Sept. 4 -- Mitsubishi Motor Sales of America, Inc. (MMSA) today reported August sales of 31,228 units, marking the best August in company history and a 10 percent gain over sales in August 2001. The all-time record August pushed Mitsubishi's year-to-date sales up to 238,211 units, 15 percent ahead of the same period last year and on pace to set a fourth consecutive yearly sales record.

"Another record month caps off a very strong summer and keeps us on pace for another record year," said MMSA President and COO Greg O'Neill. "Heading into fall, we expect the momentum to continue as dealers and consumers are anxiously awaiting delivery of the all-new Outlander entry-level S.U.V. this month."

Outlander is expected to compete aggressively in the fast-growing entry-level S.U.V. segment, followed early next year by the all-new Mitsubishi Endeavor mid-sized S.U.V. Outlander and Endeavor represent two of the seven new products Mitsubishi expects to launch over the next three years.

"The Mitsubishi brand continues to demonstrate its strength," added O'Neill. "Record numbers of young-minded, spirited people are being drawn to Mitsubishi vehicles."

    Some figures of note for MMSA's record August 2002 sales:

     --  August 2002 sales of 31,228 vehicles, up 10.3 percent over August
         2001 sales of 28,317 vehicles
     --  August 2002 year-to-date sales of 238,211 vehicles, up 15.4 percent
         over August 2001 year-to-date sales of 206,369 vehicles
     --  Eclipse Spyder had its best August ever with 1,693 units sold, up
         33.8 percent over August 2001 sales

To support its extraordinary growth in North America, Mitsubishi Motors Corporation (MMC) recently announced plans to completely consolidate all North American sales, manufacturing, finance, and research and development operations by early 2003 into a single new organization to be called Mitsubishi Motors North America (MMNA). Mitsubishi Motor Sales of America, Inc. was established in 1981 by Mitsubishi Motors Corporation, Tokyo, and markets a full line of vehicles, including coupes, convertibles, sedans and sport utility vehicles. Its Web site can be accessed at www.mitsubishicars.com .

     Sales Results, August 2002: Mitsubishi Motor Sales of America, Inc.

                  August '02       August '01       % Change    % DSR Change
                  Month/YTD         Month/YTD       Month/YTD    Month/YTD
     Passenger
      Car
      Sales*    24,728/188,299   20,055/152,386    23.3%/23.6%   18.9%/23.0%
     Sport
      Utility
      Vehicles**  6,500/49,912     8,262/53,983   -21.3%/-7.5%  -24.1%/-8.0%
     Total
      Vehicle
      Sales     31,228/238,211   28,317/206,369    10.3%/15.4%    6.3%/14.9%
     US Assembled
      Cars:     15,326/122,123   14,567/112,714      5.2%/8.3%     1.5%/7.8%
     Imported
      Cars:       9,402/66,176     5,488/39,672    71.3%/66.8%   65.2%/66.0%
     Imported
      Truck/
      SUVs:       6,500/49,912     8,262/53,983   -21.3%/-7.5%  -24.1%/-8.0%
     US Assembled
      Vehicles
      (1):      15,326/122,123   14,567/112,714      5.2%/8.3%     1.5%/7.8%
     Imported
      Vehicles
      (2):      15,902/116,088    13,750/93,655    15.7%/24.0%   11.5%/23.4%


     DSR - Daily Selling Rate
     Selling Days               MTD     YTD
     August 2002                 28     206
     August 2001                 27     205


     *    Above totals include sales of US assembled Mitsubishi Motors
          vehicles
     **   Includes Montero Sport and Montero
     (1)  Galant, Eclipse and Eclipse Spyder
     (2)  Lancer, Mirage, Diamante, 3000GT, Montero Sport and Montero