Mitsubishi Motors Announces Production, Sales and Exports for September 2006 & the First Half of Fiscal Year 2006.

Tokyo, Japan, Oct 24, 2006 - (JCN Newswire) - Mitsubishi Motors Corporation today announced global production, as well as domestic sales and export results, both for September 2006 and the first half of fiscal year 2006.

In September 2006, total global production came in at 106,666 units, a decline of 15.4 percent from the year ago period. Japanese production fell 5.4 percent year-on-year to 62,812 units.

Total vehicle sales in Japan reached 27,779 units, a 3.1 percent rise over the September 2005 total, marking the seventeenth consecutive month of year-on-year sales gains. Registered vehicle sales declined fell to 7,183 units, or 88.3 percent of the year ago figure. Lower sales in the Colt series as the series advances in its product life cycle, which was not completely offset by sales of Outlander, was the cause of the decline. Minicar sales continued year-on-year growth however, increasing to 20,596 units, 109.5 percent of the total for September 2005. Sales of the new eK Wagon and i models overcame declines in commercial minicars to push the segment higher. Total sales for passenger cars rose 10.8 percent year-on-year to 20,745 units, while commercial vehicle sales dropped to 7,034 units, 14.6 percent less than the level for the same period last year.

Overseas production for the month totaled 43,854 units, 73.5 percent of the year ago period figure. European production declined slightly to 7,517 units, or 98.2 percent of last year's total. North American production came in at 8,210 units, a 6.3 percent fall year-on-year. Asian production totaled 24,766 units, a 38.1 percent decline from September 2005's levels representing continued weakness in Asian markets such as Indonesia, Malaysia, and Taiwan where economic conditions are not favorable for the industry.

Total exports from Japan grew slightly in September 2006, up 1.0 percent over the pervious period to 38,692 units. Exports to Europe decreased to 10,224 units, 68.8 percent of the level seen last year due to lower sales of Pajero and Outlander (Airtrek) models which will undergo model changes this fiscal year. Exports to Asia came to 3,086 units, up a strong 37.4 percent year-on-year due to strong sales in Singapore and growth in units exported from Japan to China. Exports to North America rose to 6,213 units, 136.0 percent of the September 2005 total due to higher sales in the US and Canada compared to the year ago period.

April - September 2006

In the first half of fiscal year 2006, global production totaled 615,936 units, 92.0 percent of the levels seen in the first half of fiscal year 2005. Japanese production came to 340,202 units, a 7.4 percent increase year-on-year.

Japanese vehicle sales in the first half reached 114,281 units, an increase of 6.4 percent over the year ago period. Following overall industry trends, registered vehicle volume declined a small 1.6 percent year-on-year to 32,654 units while minicar sales grew to 81,627 units, 9.9 percent higher than levels seen last year. Passenger car volume increased to 78,412 units, 112.4 percent of the total for the same period in fiscal year 2005, and commercial vehicle volume declined to 35,869 units, down 4.7 percent over the comparable period last year. Market share for the period improved to 4.4 percent, an increase of 0.4 percentage points over the 4.0 percent market share seen in the first half of fiscal year 2005.

Overseas production in the period dropped to 275,734, or 78.1 percent of the total for the pervious period. Production in Europe for the first half came in at 46,122 units, a 33.4 percent increase over the year ago total due to strong sales of the Colt CZC cabriolet model launched in this fiscal year. Production in North America increased 3.9 percent year-on-year to 46,290 and Asian production declined to 162,635 units, a 35.0 percent decline from the total for the comparable period. This decline again stems from weak economic conditions in markets such as Indonesia, Malaysia and Taiwan.

Lastly, exports from Japan totaled 191,223 units, up 4.3 percent over the total for the first half of fiscal year 2005. Exports to Europe fell to 59,458 units, down 9.8 percent year-on-year due again to lower sales of models that are undergoing model changes this fiscal year. Shipments to North America rose to 27,952 units, 129.3 percent of the year ago total due to improving sales in the US and Canada. Finally exports to Asia totaled 14,892 units, 79.3 percent of the previous period total due to weakness in markets as mentioned above.

About Mitsubishi Motors Corporation

Mitsubishi Motors Corporation (TSE: 7211) was established in 1970 and is one of the few automobile companies in the world that produces a full line of automotive products ranging from 660-cc mini cars and passenger cars to commercial vehicles and heavy-duty trucks and buses. The company also operates consumer financing services and provides this to its customer base. For more information, please visit www.mitsubishi-motors.com.

Source: Mitsubishi Motors Corporation

Contact:

Mitsubishi Motors Corporation
Public Relations Department
http://www.mitsubishi-motors.com
[phone]

Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K.