Mitsubishi Motors has continued to improve its business position, as well as exceed many of its business targets during July.

MMAL has made another substantial repayment to its parent in Japan, who has also improved its investment rating substantially in the last month. MMAL continues to track ahead of its plan for the first quarter of its financial year, and with its new products just coming on to the market is confident of continuing the general upward trends throughout its business.

"The launches of the ML Triton and manual and Ralliart Colts have just been completed very successfully, and we have had very positive feedback on those products," President and CEO Robert McEniry said.

"We are holding an order bank on ML Triton that stretches out a couple of months, and the order bank on Colt is also very impressive. Our dealer network is seeing very strong demand for these products, and that gives us great heart for the coming months."

"We are satisfied with the way we are tracking at the moment. To be ahead of our plan at this stage of our financial year is encouraging, particularly when we still have new Pajero and Outlander to launch in the next few months."

"Stock shortages in significant product lines has contributed to our lower sales result in July. Lancer continues to perform fantastically, even though we had stock shortages throughout its range, and we were also very limited on Pajero Exceed and the fast-selling Pajero VRX diesel. The VRX has captured the imagination of the market with its distinctive styling and great value for money. And, of course the diesel engine in this car really is a cracker, which puts us in an enviable position because diesel really is the fuel of choice for larger SUVs in the current climate," Mr McEniry said.

Mitsubishi's 380 suffered a slight sales downturn this month, but it was also hampered by stock issues on some product lines. Considering the overall Large Car segment decline, Mitsubishi was again satisfied with its sales rate.

"The good news with 380 is that it is running encouragingly ahead of its cumulative target for the year to date and it has gained sales in a market that has lost over 8,000 units in that time. Also, it is continuing to gain conquest sales from other brands in many smaller business and government fleets where it is now their preferred car. We expect it will continue to grow again in future months," Mr McEniry said.

2006 Mitsubishi 380 SX

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