An image processor is disclosed for a vehicle having a plurality of cameras and a monitor that displays a panoramic image derived from multiple images generated by the plurality of cameras. The processor includes input buffers for storing camera image data captured through respective camera modules and output buffer for storing a panoramic image. The camera image data for generating the panoramic image are retrieved from input buffers. The camera image data are stored in an output buffer using an reconfigured address conversion table. The reconfigured address conversion table is an address conversion table which is obtained by reconfiguring an address conversion table when camera modules are assumed to be free of vehicle installation errors. The reconfiguration is performed on the basis of parameters which are used to correct vehicle installation errors of camera modules.