Mitsubishi Production, Sales and Exports for 2006

Tokyo - July 24, 2006: Mitsubishi Motors Corporation today announced global production, as well as domestic sales and export results, both for June 2006 and the first six months of calendar year 2006.

June 2006

Total global production totaled 109,245 units, 91.3 percent of the June 2005 total. Japanese production came in at 60,300 units, 8.5 percent higher than the year ago period, thus marking the thirteenth consecutive month of year-on-year growth in the category.

Total vehicle sales in Japan came to 19,593 units, up 4.0 percent over the level seen last year. June was the fourteenth consecutive month of year-on-year sales growth for Japan. Registered vehicle sales declined slightly, 1.0 percent year-on-year, reflecting weakness in the registered vehicle segment in the Japanese market overall. Minicar sales continued to see strength however, growing 6.4 percent over the June 2005 total. Total sales for passenger cars came to 12,560 units, a 5.0 percent increase over the pervious period, while commercial vehicle sales rose to 7,033 units, 102.3 percent of the year ago period total.

Overseas production for the month totaled 48,945 units, a 23.7 percent decline year-on-year. European production showed a 26.8 percent increase over last year's total, to 10,169 units, stemming from lower production in June 2005 as the European Colt series models were still in the production ramp-up phase last year. Asian production totaled 29,216 units, 65.9 percent of last year's figure corresponding to weakness in Asian markets such as Indonesia and Taiwan where economic conditions are not favorable for the industry. North American production fell 6,185 units, a 16.2 percent decline over the previous period due to a yearly one week summer holiday in June for factory staff (the holiday occurred in July in 2005).

Total exports from Japan remained steady over the June 2005 total at 31,259 units, 99.9 percent of last year's total. Exports to Europe decreased to 8,807 units, down 39.3 percent year-on-year due to inventory rebalancing efforts. Exports to Asia came to 3,446 units, 115.1 percent of the export volume in the same period last year, while exports to North America rose 200.6 percent year-on-year, to 5,580 units. The large gain stemmed from continued normal production levels of the outgoing Outlander (Airtrek) and Lancer models. The June period usually sees a drop in export totals as dealer orders fall before the introduction of new model year versions of vehicles in production. The Outlander (Airtrek) and Lancer models are undergoing full model changes later this fiscal year however, so there will be no new model year versions for these two vehicles. Thus, the 'new model year version' effect described above did not occur.

January - June 2006

The first six months of calendar year 2006 saw total global production of 668,474 units, or 101.3 percent year ago period levels. Japanese production came to 373,385 units, a strong 22.2 percent increase year-on-year.

Japanese vehicle sales in the period totaled 144,896 units, up 12.4 percent over the comparable period last year, again showing strong evidence of recovery in the domestic market. Passenger car volume came to 104,052 units, 122.1 percent of the total for the January - June 2005 period. Commercial vehicle volume saw a decline to 40,844 units, 93.4 percent of the previous period's total. Market share for the period improved to 4.9 percent, an increase of 0.7 percentage points over the market share in the same period last year.

Globally, production in Europe for the year totaled 44,486 units, 117.8 percent of the previous period's total again due to the fact that the Colt series models were still in the production ramp-up phase last year. Production in Asia declined to 188,393 units, or 73.8 percent of the year ago total again corresponding to weak economic conditions in Indonesia, Taiwan, and other markets. Finally, production in North America for the period rose 6.9 percent year-on-year to 42,333 units.

Lastly, exports to Europe rose 24.5 percent over the January - June 2005 period, to 66,986 units, due to continued strong sales growth in Russia and the Ukraine. Shipments to North America fell slightly to 18,021 units, 97.3 percent of the totals for last year, and exports to Asia totaled 17,140 units, 91.8 percent of the year ago total.