News Releases 2003

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Corporate
Japan
December 17, 2003

2003/2004 SALES & PRODUCTION

<Global Sales (unit:10 thousand)>

* = New record

  2003 2004
Forecast % Change Plan % Change
Motorcycles & ATVs
*approx. 909
112%
*approx. 1,040
114%
Automobiles
* 291
103%
* 320
110%
Power Products
* 498
111%
* 540
108%
Total
* 1,698
110%
* 1,900
112%

<Motorcycles & ATVs>

* = New record

  2003 2004
Forecast % Change Plan % Change
Japan sales
(Units)
410,000
97.8%
(Units)
410,000
100%
Export sales
430,000
94.4%
370,000
86.0%
Motorcycle Total
840,000
96.0%
780,000
92.9%
ATVs
310,000
94.3%
*340,000
109.7%
Motorcycle & ATV Total
1,150,000
95.5%
1,120,000
97.4%
KD sets
*7,400,000
108.9%
* 8,620,000
116.5%

· Electric power-assisted bicycle "Racoon" is not included in the above figures.

Japan production (·)
664,000
76.5%
610,000
91.9%
Overseas production (··)
*8,456,000
119.1%
*9,760,000
115.4%
Global production (···)
*9,120,000
114.5%
*10,370,000
113.7%

(·) -- completely built unit (CBU) + complete knock-down (CKD)
(··) -- CBU production at local plants (excluding overseas CKD)
(···) - Domestic production plus overseas production

<Automobiles>

* = New record

  2003 2004
Forecast % Change Plan % Change
· Passenger cars & light trucks
(Units)
485,000
79.0%
(Units)
506,000
104.3%
Mini vehicles
255,000
88.3%
294,000
115.3%
Japan sales
740,000
82.0%
800,000
108.1%
Export sales
465,000
97.7%
460,000
98.9%
Total
1,205,000
87.4%
1,260,000
104.6%
KD sets
1,580,000
111.1%
*1,710,000
108.2%

· Import car sales are included in passenger cars & light trucks

Japan production (·)
1,160,000
83.7%
1,220,000
105.2%
Overseas production (··)
*1,790,000
118.2%
*1,950,000
108.9%
Global production (···)
*2,950,000
101.7%
*3,170,000
107.5%

(·) -- completely built unit (CBU) + complete knock-down (CKD)
(··) -- CBU production at local plants (excluding overseas CKD)
(···) - Domestic production plus overseas production

<Power Products>

* = New record

  2003 2004
Forecast % Change Plan % Change
Japan sales
(Units)
445,000
90.3%
(Units)
400,000
89.9%
Export sales
4,536,200
113.8%
5,000,000
110.2%
Total
*4,981,200
111.2%
*5,400,000
108.4%

· OEM engines for export have been included in Japan sales since 2001.