Metallurgical factors affecting the press formability of the newly developed high strength sheet steels have been discussed. Dual phase steels, CHLY(cold-rolled sheet steel) and HTP-D(as-hot-rolled sheet steel), produced by control of cooling conditions after intercritical annealing or hot-rolling exhibit very low yield to tensile strength ratio and high n-value. Rephosphorized extra-low carbon steel, CHRX, produced by continuous annealing with rapid cooling is characterized by its extremely high r-value and low yield strength. CHLY, HTP-D and CHRX have large bake hardenability. Precipitation hardened steel, HTP-F(hot-rolled sheel steel), produced by adjusting carbon equivalent and sulfur content is suitable for manufacturing wheel rims owing to its good formability after flash butt welding.