Mitsubishi Motors Reports September Sales

CYPRESS, Calif., Oct. 1, 2003 -- Mitsubishi Motors North America, Inc. (MMNA) today reported September 2003 sales of 16,081 units. Sales were supported by a 42.4 percent increase in Mitsubishi Motors' expanding line of sport utility vehicles. The September 2003 total represents a 30.4 percent decline compared to September sales in 2002.

"We're disappointed with the September results, but the majority of 2004 product will be shipped to dealers this month and next," said Greg O'Neill, president and COO, Sales Division, MMNA. "The all-new Galant and Lancer Sportback, plus the updated Lancer and Outlander will drive increased traffic to dealers late this fall."

Mitsubishi Galant, the brand's volume leader, has been completely redesigned inside and out for 2004. The company expects the mid-sized sedan's new look, increased dimensions and improved performance to compete more aggressively in its segment. The Lancer family of compact sedans receives a new sporty new look and the addition of a 162-horsepower Lancer Ralliart factory-tuned trim line. A sporty hatchback called Lancer Sportback goes on sale as a completely new model. The new Galant and expanded Lancer family go on sale in October. The updated Diamante goes on sale in late November.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for all of the North American operations of Mitsubishi Motors Corporation. As a single company consolidated on Jan. 1, 2003, MMNA and its subsidiaries manufacture, distribute, finance and market Mitsubishi brand coupes, convertibles, sedans and sport utility vehicles through a network of nearly 700 dealers in the United States, Canada, Mexico and the Caribbean. Mitsubishi Motors sold its first vehicle in the U.S. in 1981, and began building cars here in 1988 at its manufacturing facility in Normal, Ill. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672.

   Sales Results, September 2003: Mitsubishi Motors North America, Inc.

                September '03   September '02     % Change    % DSR Change
                  Month/YTD       Month/YTD      Month/YTD     Month/YTD
  Passenger
   Car
   Sales*       9,397/136,399  18,424/206,723 -49.0%/-34.0%   -51.1%/-34.0%
  Sport
   Utility
   Vehicles**    6,684/68,800    4,693/54,605   42.4%/26.0%     36.5%/26.0%
  Total
   Vehicle
   Sales       16,081/205,199  23,117/261,328 -30.4%/-21.5%   -33.3%/-21.5%
  US Assemb.
   Cars          6,320/89,101  11,854/133,977 -46.7%/-33.5%   -48.9%/-33.5%
  Imported
   Cars          3,077/47,298    6,570/72,746 -53.2%/-35.0%   -55.1%/-35.0%
  US Assemb.
   Truck/
   SUV (3)       2,848/17,657           --/--         --/--           --/--
  Imported
   Truck/
   SUVs          3,836/51,143    4,693/54,605  -18.3%/-6.3%    -21.7%/-6.3%
  US Assembled
   Vehicles (1) 9,168/106,758  11,854/133,977 -22.7%/-20.3%   -25.9%/-20.3%
  Imported
   Vehicles (2)  6,913/98,441  11,263/127,351 -38.6%/-22.7%   -41.2%/-22.7%

       DSR - Daily Selling Rate
       Selling Days         MTD      YTD
       September 2003        24      229
       September 2002        23      229

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