Mitsubishi Motors Reports October Sales

CYPRESS, Calif., Nov. 3, 2003 -- Mitsubishi Motors North America, Inc. (MMNA) today reported October 2003 sales of 16,282 units. Sales were supported by a record month for the Mitsubishi Endeavor cross-over S.U.V., which continued gathering momentum by posting its highest monthly total ever at 4,176 units. Total sales in October 2003 represent a slight increase over sales in September and a 30.5 percent decline compared to October sales in 2002.

"The completely redesigned 2004 Mitsubishi Galant is just now arriving in showrooms and giving Mitsubishi dealers our most competitive product ever in the industry's highest-volume segment," said Greg O'Neill, president and COO, Sales Division, MMNA. "Dealers are also excited by the arrival of a factory- tuned Lancer Ralliart sedan and Lancer Sportback sport wagon. Mitsubishi's family of compact sedans is now one of the most competitive in the industry."

Starting under $18,000, Galant has been redesigned from the ground up, with an edgy new look, more interior space and the biggest V6 engine in its class. Along with several other new and refreshed models, Galant is shipping to dealers now and goes on sale this month.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for all manufacturing, finance, sales, marketing, research and development operations of the Mitsubishi Motors Corporation in the United States, Canada, Mexico and Puerto Rico. Mitsubishi Motors sells coupes, convertibles, sedans and sport utility vehicles through a network of nearly 700 dealers throughout North America. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit media.mitsubishicars.com .

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

                 October '03     October '02     % Change    % DSR Change
                  Month/YTD       Month/YTD      Month/YTD     Month/YTD
   Passenger
    Car
    Sales*
                 8,444/144,843 14,980/221,702 -43.6%/-34.7% -43.6%/-34.7%
   Sport
    Utility
    Vehicles**
                  7,838/76,638   8,435/63,040   -7.1%/21.6%   -7.1%/21.6%
   Total
    Vehicle
    Sales
                16,282/221,481 23,415/284,742 -30.5%/-22.2% -30.5%/-22.2%
   US Assemb.
    Cars          5,578/94,679 10,082/144,058 -44.7%/-34.3% -44.7%/-34.3%
   Imported
    Cars          2,866/50,164   4,898/77,644 -41.5%/-35.4% -41.5%/-35.4%
   US Assemb.
    Truck/
    SUV (3)       4,176/21,833          --/--         --/--         --/--
   Imported
    Truck/
    SUVs          3,662/54,805   8,435/63,040 -56.6%/-13.1% -56.6%/-13.1%
  US Assembled
    Vehicles (1) 9,754/116,512 10,082/144,058  -3.3%/-19.1%  -3.3%/-19.1%
  Imported
    Vehicles (2) 6,528/104,969 13,333/140,684 -51.0%/-25.4% -51.0%/-25.4%

   DSR - Daily Selling Rate
   Selling Days              MTD      YTD
   October 2003               27      256
   October 2002               27      256

   *   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