Mitsubishi motors admitted they manipulated the fuel economy data

Mitsubishi motors
source via- google search, business news, Mitsubishi motors admitted manipulated the fuel economy data
Mitsubishi motors admitted to manipulating fuel-economy data the biggest scandal of the motor company till now.

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.
Powered by Blogger.