Mitsubishi Motors Reports July U.S. Sales

CYPRESS, Calif., Aug. 3, 2004 -- Mitsubishi Motors North America, Inc. (MMNA) today reported July 2004 U.S. sales of 11,192 units. Mitsubishi Motors has sold 112,995 units year to date in the United States.

"Retail sales in July improved more than 30 percent over June 2004, which shows that Mitsubishi's 'Best Backed Cars' program is gaining momentum with customers and building showroom traffic," said Michael M. Tocci, MMNA senior vice president, sales, distribution and fleet. "The decline in total volume compared to last year reflects our strategic decision to eliminate risky financing deals and reduce reliance on fleet sales. We know it will take time for improved retail sales to replace reported fleet sales, but we remain committed to patiently rebuilding our retail business and brand, one car at a time."

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 750 dealers throughout North America. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit media.mitsubishicars.com.

   Following is the sales breakdown for July 2004:

                           2004             2003               2004
                       JUL     CYTD     JUL     CYTD      JUL      CYTD

  ECLIPSE COUPE         970    8,311   2,821    17,393   -65.6%   -52.2%

  ECLIPSE SPYDER        446    6,174   1,001     7,501   -55.4%   -17.7%

  LANCER              2,236   26,899   3,520    29,667   -36.5%    -9.3%

  LANCER EVOLUTION      360    2,729     572     2,620   -37.1%     4.2%

  LANCER SPORTBACK      193      990      --        --     0.0%     0.0%

  MIRAGE COUPE           --       --      --       171      --   -100.0%

  MIRAGE SEDAN           --        1       1         1     0.0%     0.0%

  GALANT              2,993   29,763   6,687    46,277   -55.2%   -35.7%

  DIAMANTE               99    2,670     485     6,097   -79.6%   -56.2%

  TOTAL CAR           7,297   77,537  15,087   109,727   -51.6%   -29.3%

  OUTLANDER           1,455   12,124   2,390    22,463   -39.1%   -46.0%

  MONTERO SPORT         604    4,983   1,653    13,590   -63.5%   -63.3%

  ENDEAVOR            1,558   14,893   3,022    10,897   -48.4%    36.7%

  MONTERO               278    3,458     729     5,061   -61.9%   -31.7%

  TOTAL SUV           3,895   35,458   7,794    52,011   -50.0%   -31.8%

  TOTAL              11,192  112,995  22,881   161,738   -51.1%   -30.1%

  US Assembled
   Cars (1):          4,409   44,248  10,509    71,171   -58.0%   -37.8%
  Imported Cars (2):  2,888   33,289   4,578    38,556   -36.9%   -13.7%
  US Assem.
   Truck/SUV (3):     1,558   14,893   3,022    10,897   -48.4%    36.7%
  Imported Truck/
   SUVs (4):          2,337   20,565   4,772    41,114   -51.0%   -50.0%

  US Assembled
   Vehicles:          5,967   59,141  13,531    82,068   -55.9%   -27.9%
  Imported Vehicles:  5,225   53,854   9,350    79,670   -44.1%   -32.4%

  ** Selling Days       MTD      YTD
  2004                   27      180
  2003                   26      178

   (1)  Galant, Eclipse, Eclipse Spyder
   (2)  Lancer, Lancer Sportback, Lancer Evolution, Diamante, Mirage Coupe,
        Mirage Sedan
   (3)  Endeavor
   (4)  Montero, Montero Sport, Outlander