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Mitsubishi Motors' Colt Shows Strong Sales in First Week

- Total orders already beat monthly sales target of 7,000 units -

Tokyo, November 19, 2002 -Mitsubishi Motors Corporation (MMC) today announced initial orders for its newly launched subcompact Colt reached 7,835 as of yesterday, after only two days on sale and one week after its official launch last Monday.

Fairs held over the weekend to launch the Colt attracted some 53,000 couples and families nationwide to see the Colt and get a firsthand glimpse at the new direction of MMC styling. "We couldn't have asked for a better start," said Eiji Iwakuni, head of domestic car sales and marketing. "Initial market reaction to the Colt has been overwhelming and we're confident sales will continue to show strong results." The Colt's chic interior, low cabin noise, and smooth ride proved popular with customers.

Functionality is another aspect high on the list of purchase priorities, with over 60 percent of customers opting for the Colt's Useful Seat front passenger seat, which converts into a large box-tray with a 6.1-liter space to stow luggage and valuables. On the performance side, many people commented on the Colt's class-topping level of fuel efficiency.

Customer Free Choice (CFC), which gives customers the freedom to choose their own combination of features, and free 24 hour roadside service for the first three years helped drive sales as customers benefit from MMC's renewed customer-centric sales approach. 20 percent of customers used CFC when purchasing the Standard Version, 36 percent on the Elegant Version, 22 percent on the Casual version, 5 percent for the Sport Version, and 17 percent for the Sport X Version. Average purchase price is 1,320,000 yen.

The 1.3-liter Elegance Version is the best-selling so far, accounting for 36 percent of all sales. Cool Silver Metallic was the most popular body color with 40 percent of customers choosing it. Other popular colors in the 10-color lineup include Warm Silver Metallic (14 percent), Light Blue Metallic (11 percent), and Red Solid (9 percent).