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Tokyo, July 29, 2010
Mitsubishi Motors Corporation Announces First Quarter Fiscal 2010 Results
TOKYO, July 29, 2010 Mitsubishi Motors Corporation today announced its sales and financial results for the first quarter of the 2010 fiscal year ending March 31, 2011.
 
1. Performance overview
Mitsubishi Motors reports that consolidated net sales totaled 403.7 billion yen in the first quarter of fiscal 2010 (April 1 through June 30), a 56 percent or 144.6 billion yen increase over the same period last fiscal year. This increase was driven by higher unit sales volume chiefly in China and other emerging markets in the midst of an upswing in global new vehicle demand from the second half of fiscal 2009.
Mitsubishi Motors posted an operating loss of 4.5 billion yen, an improvement of 25.1 billion yen over the same period last fiscal year. In addition to the higher unit sales, factors contributing to this improvement included better profitability at the company's Japanese subsidiaries.
Mitsubishi Motors reported an ordinary loss of 5.8 billion yen, an improvement of 22.0 billion yen, and posted a net loss of 11.8 billion yen, an improvement of 14.6 billion yen over the same period last fiscal year.
 
2.  Unit sales volume
Global retail sales volume in the first quarter of fiscal 2010 totaled 257,000 units, a 21 percent or 44,000 units increase over the same period last fiscal year. Sales volumes by region were as follows:
In Japan, sales of registered vehicles such as the Colt series and Outlander flourished under the continuation of eco-car tax reductions and incentives. In addition, minicars performed well and the launch of the new RVR compact SUV in February of this year also helped to lift volume; the result being unit sales of 38,000 units, an increase of 7,000 units or 22 percent on the same period last year.
In North America, sales volumes in the United States, Canada and Mexico remained at similar year-on-year levels, with the region's overall sales volume coming in at 21,000 units.
In Europe, the new ASX compact crossover which was sequentially released from June showed initial success. However, with negative factors such as a major year-on-year sales drop in Germany, where overall demand slumped as a result of the expiration of scrap incentives, the region's year-on-year sales volume came to 46,000 units, down 3,000 units or six percent over the same period last year.
In Asia and Other Regions, sales volume at 152,000 units was 40,000 units or 37 percent up on the same period last year. Year-on-year sales volume increased in all markets in the region, with particularly strong growth in China, in those countries of the ASEAN bloc including Thailand, the Philippines, Indonesia, among others, as well as in Australia.
 
3Fiscal 2010 forecasts
As the results for the first quarter of fiscal 2010 have been mostly according to plan, Mitsubishi Motors leaves the fiscal 2010 first-half and full-year consolidated forecasts announced on April 27, 2010 unchanged at this time.
 

Note on forward-looking statements
All statements herein, other than historical facts, contain forward-looking statements and are based on MMC's current forecasts, expectations, targets, plans, and evaluations. Any forecasted value is calculated or obtained based on certain assumptions. Forward-looking statements involve inherent risks and uncertainties.

A number of significant factors could therefore cause actual results to differ from those contained in any forward-looking statement. Significant risk factors include:
 
•Feasibility of each target and initiative as laid out in this news release;
•Fluctuations in interest rates, exchange rates and oil prices;
•Changes in laws, regulations and government policies; and
•Regional and/or global socioeconomic changes.
 
Potential risks and uncertainties are not limited to the above and MMC is not under any obligation to update the information in this news release to reflect any developments or events in the future.
 
If you are interested in investing in Mitsubishi Motors, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this news release.
 

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