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Mitsubishi Motors Colt Tops 15,000 Units

- Orders more than double monthly target before close of first month -

Tokyo, December 10, 2002 -Mitsubishi Motors Corporation (MMC) today announced it had received 15,103 orders for its new Colt in less than one month on the market, far exceeding its monthly target of 7,000 units.

The strong start to sales of the Colt positions it as a major player in Japan's fiercely competitive subcompact segment and sets it up to add further drive to MMC's Turnaround. "The Colt is off to a great start, outstripping our initial forecasts earlier than expected," says Eiji Iwakuni, head of domestic car sales and marketing. "We expect it will play a large part in achieving the goals for the second year of our turnaround," he added.

The 1.3-liter 2WD is the best selling model of the new Colt, accounting for 63 percent of orders, while the 1.5-liter 2WD makes up 27 percent. For 4WD vehicles, which went on sale on November 20, the 1.3-liter accounts for 6 percent of overall sales and the 1.5-liter for 4 percent.

Cool Silver Metallic is proving to be the most popular body color with 40 percent of customers choosing it. Other popular colors in the 10-color lineup include Warm Silver Metallic (20 percent), Light Blue Metallic (9 percent), and Red Solid (8 percent).

Customer Free Choice (CFC), which gives customers the freedom to choose their own combination of features, and 24 hour roadside service for the first three years are fueling sales as customers benefit from MMC's renewed customer-centric sales approach. 21 percent of customers are using CFC when purchasing the Standard Version, 40 percent on the Elegant Version, 19 percent on the Casual version, 16 percent for the Sport X Version, and 4 percent for the Sport Version.

The Colt's chic interior, low cabin noise, and smooth ride are proving popular with customers, most of whom are in their twenties or thirties. Functionality is another aspect high on the list of purchase priorities, with many 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.