Mitsubishi Motors are the latest company to admit falsifying economy test results for 625,000 cars built since the middle of 2013.
So What’s the Damage for Mitsubishi Motors?
Of the total 625,000, 157,000 have been built under the Mitsubishi brand and the remainder have been built for Nissan, although Nissan were quick to mention none have been sold in the UK. This has had a dramatic effect on the share price, which fell by 15% in a single day, knocking $1.2 billion off Mitsubishi value.
Where do They go From Here?
Mitsubishi president Tetsuro Aikawa has bowed in apology at a recent news conference. However, this will no doubt tarnish Mitsubishi moving forwards, especially given that earlier this month VW announced another slump in sales. At least this time they have admitted to the issue and are dealing with it, the older readers among us will remember 15 years ago when Mitsubishi were in hot water over multiple failures in areas as important as brakes.
And the Future?
I’m sure manufacturers will be calling for tougher regulations. There is no news as yet, but wouldn’t you want compensation if you were Nissan…?
Source: Sky News