Using an Al-Mg-Cu alloy developed for auto body panels, strip sheets are experimentally produced by various cold-rolling and annealing procedures. Tensile and metallographic properties of the sheets and their relations are examined to attain high formability. The elongation is closely related to the grain size, and increases with the final annealing temperature. The rolling texture influences the plastic anisotropy, the Lankford value of the sheets. The comparatively high Lankford values are obtained under the condition that both the intermediate and the final annealing temperatures are higher and the reduction ratio after the intermediate annealing is smaller.