Mitsubishi Motors Reports Best October in History

CYPRESS, Calif., Nov. 1 -- Mitsubishi Motor Sales of America, Inc. (MMSA) today reported October sales of 27,726 units, marking the best October sales in company history and representing an increase of 17.6 percent compared to October 2000.

``This month exceeded our expectations,'' said MMSA President and COO Pierre Gagnon. ``Despite an uncertain economy, we are very bullish about the rest of the year. Our brand awareness is at an all time high proving that our upbeat, spirited message is breaking through and resonating with consumers.''

Mitsubishi Motors posted record U.S. sales for August 2001 and in spite of the tragic events of September 11th, last month posted the second-best September in company history. Gagnon credited the October sales record to a solid product line and strong demand for the all-new Mitsubishi Lancer compact sedan, which launched in August.

``We're growing our customer base by offering exciting products that present incredible value,'' Gagnon added. ``The Lancer launch has been an incredible success.''

Gagnon expects strong sales to continue through the end of 2001. On Wednesday the company improved upon the popular 0-0-0 financing program by including all 2001 and 2002 Mitsubishi makes and models and extending the offer until November 30, 2001. The new program offers customers the opportunity to purchase a new Mitsubishi vehicle with no money down, no interest and no payments until 2003.

    Some figures of note for MMSA's record October 2001 sales:

    --  October 2001 sales of 27,726 vehicles, up 17.6 percent from last
        year's October sales of 23,574 vehicles
    --  2001 year-to-date sales of 257,698 vehicles; down 2.3 percent compared
        to last year's record pace of 263,690 vehicles
    --  All-new 2002 Lancer sold 5,068 units, up 39.8 percent over last month
    --  Montero Sport had its best October ever with 5,169 units sold, up
        5.0 percent over October 2000
    --  Montero had its best October ever with 2,471 units sold, up
        54.2 percent over October 2000
    --  Eclipse Spyder had its best October ever with 1,550 units sold, up
        6.1 percent over October 2000

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 website can be accessed at www.mitsubishicars.com.

     Sales Results, October 2001: Mitsubishi Motor Sales of America, Inc.

                      October '01   October '00     % Change    % DSR Change
                       Month/YTD     Month/YTD      Month/YTD    Month/YTD

    Passenger
     Car Sales*    20,086/189,920   17,049/192,020  17.8%/-1.1%  13.4%/-1.1%
    Sport Utility
     Vehicles**      7,640/67,778     6,525/71,670  17.1%/-5.4%  12.8%/-5.4%
    Total Vehicle
     Sales         27,726/257,698   23,574/263,690  17.6%/-2.3%  13.3%/-2.3%
    US Assembled
     Cars:         12,806/137,495   12,579/139,763   1.8%/-1.6%  -2.0%/-1.6%
    Imported Cars:   7,280/52,425     4,470/52,257   62.9%/0.3%   56.8%/0.3%
    Imported Truck/
     SUVs:           7,640/67,778     6,525/71,670  17.1%/-5.4%  12.8%/-5.4%
    US Assembled
     Vehicles (1): 12,806/137,495   12,579/139,763   1.8%/-1.6%  -2.0%/-1.6%
    Imported
     Vehicles (2): 14,920/120,203   10,995/123,927  35.7%/-3.0%  30.7%/-3.0%

     DSR - Daily Selling Rate
     Selling Days              MTD           YTD
     October 2001               27           257
     October 2000               26           257

    *    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