Mitsubishi motors admitted they manipulated the fuel economy data
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The share price of Mitsubishi motors had a great drop and still there is no chance of it to rise up again.
The loss is approximated to $2.5 billion, In two days after Japan's sixth-biggest automaker said it had manipulated test data to overstate the fuel economy of 625,000 cars, a situation the government called extremely serious.
The issue came to light after Nissan Motor Co, which markets a model made by Mitsubishi, found a discrepancy in fuel efficiency test data.
JPMorgan auto analyst Akira Kishimoto estimated the cheating could cost Mitsubishi more than 50 billion yen ($450 million), including payments to consumers, the costs of replacing parts, and compensation to Nissan.
In addition, there can be a huge loss of sales from around the world.
Japan's transport minister have told the company to submit the full test systematic report within a week.
Mitsubishi motors admitted they manipulated the fuel economy data Reviewed by OnlyHeadlines Senior Writer on Thursday, April 21, 2016 Rating: