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Mitsubishi Rings in a New Decade With Record Sales Successes

10 January 2001

Mitsubishi Motors Rings in a New Decade With Record Sales Successes and a Focused Business Strategy

          Automaker's Plans for Continued Growth Punctuated by Debut
    Of New Concept Vehicles at 2001 North American International Auto Show

    DETROIT, Jan. 10 Boosted by record sales, a solid
commitment to continued growth in North America and an influx of exciting new
products, Mitsubishi Motor Sales of America, Inc. (MMSA) enters a new decade
feeling bullish about the future, according to Hiroshi Yajima, chairman and
chief executive officer, Mitsubishi Motors America, Inc. and Pierre Gagnon,
MMSA executive vice president and chief operating officer.  The executives
today reviewed Mitsubishi Motors' recent performance and future business plans
in their address at the annual North American International Auto Show in
Detroit.
    For the year 2000, MMSA and its retail partners posted sales of nearly
315,000 cars and sport utility vehicles, a target that was achieved four years
ahead of schedule.  Six models broke all previous sales records; they include
Galant, Eclipse coupe, Eclipse Spyder convertible, Montero, Montero Sport and
Mirage sedan.
    Mitsubishi Motors will continue to build on its momentum through the
Project America initiative; a $1.4 billion plan that emphasizes more
Mitsubishi product designed and assembled in America.
    "Without question, we have momentum," said Pierre Gagnon.  "This was by
far the most profitable year Mitsubishi Motors has ever had in this country.
We've turned around our operations.  We've turned around our products and now
we are ready to steer toward a rapidly changing market."
    In addition to continuing its dealer network expansion, consolidating
North American operations and fine-tuning its highly focused marketing
strategy, MMSA is leveraging its technology in a number of areas.  The company
has made such significant strides with its efficient and innovative techniques
that InformationWeek magazine recently ranked Mitsubishi Motors #34 out of the
Top 100 information technology innovators, the highest of any automotive
company recognized on the list.
    "The most important tool we have is great cars," said Gagnon.  "This is
why Mitsubishi Motors will be introducing an all-new vehicle every year for
the next five years."
    Chairman Yajima emphasized that Mitsubishi Motors is also developing its
strategic alliance with DaimlerChrysler.
    "This is a partnership that we feel can strengthen MMC's business and
profitability in the future," said Yajima.
    Mitsubishi's announcement in Detroit concluded with the worldwide preview
of two exciting, new Mitsubishi concept vehicles:  the ASX sport utility
vehicle and the RPM 7000 crossover vehicle.
    As the first "world car" that Mitsubishi has ever debuted in the United
States, the ASX is an agile, sophisticated compact SUV whose design and
performance is well suited to a diverse range of on- and off-road conditions.
The Mitsubishi RPM 7000 -- the fourth in a series of outrageously styled
machines from the company's California design studio -- takes its performance
cues from Mitsubishi's world-dominating rally racing heritage.