Tokyo -- Mitsubishi has discovered itself embroiled inside a major scandal after
admitting it manipulated fuel-efficiency tests in a lot more than 600 000
associated with its vehicles.
Shares within the company plunged a lot more than 15 percent following the news broke upon Wednesday, the stock's greatest one-day drop within almost 12 many years.
The embarrassing revelation is available in the wake of the massive pollution-cheating scandal from Volkswagen that erupted within September and that the German giant continues to be struggling to conquer.
Mitsubishi said it might halt production and sales from the affected vehicle versions - about 625 000 mini-cars, such as ones which Mitsubishi creates for Nissan. The actual rigged figures had been discovered after Nissan discovered inconsistencies in fuel-economy information and reported this.
Mitsubishi possesses warned that the volume of affected vehicles would most likely rise and so it would launch some sort of probe into cars and trucks it sold with overseas markets.
"We found that based on the fuel consumption examining data... (the company) done testing improperly to provide better fuel consumption rates versus actual rates, inch Mitsubishi president Tetsuro Aikawa explained to a Tokyo announcement briefing.
He added which the testing method was "different" collected from one of required by Japanese people law, and warned which the carmaker's bottom line would create a hit.
"This seriously isn't a simple problem and we start to use time (to assess the impact), " Mitsubishi's major executive said. "But I'm sure there'll be an impact. The damage will likely be big. "
Even so, this is faraway from being the primary fuel figure scandal from the automotive world, some sort of notable example currently being Hyundai and Kia's exaggerated fuel efficiency results for 2012 in addition to 2013 US products, which led into a $100 000 very good.
Shares within the company plunged a lot more than 15 percent following the news broke upon Wednesday, the stock's greatest one-day drop within almost 12 many years.
The embarrassing revelation is available in the wake of the massive pollution-cheating scandal from Volkswagen that erupted within September and that the German giant continues to be struggling to conquer.
Mitsubishi said it might halt production and sales from the affected vehicle versions - about 625 000 mini-cars, such as ones which Mitsubishi creates for Nissan. The actual rigged figures had been discovered after Nissan discovered inconsistencies in fuel-economy information and reported this.
Mitsubishi possesses warned that the volume of affected vehicles would most likely rise and so it would launch some sort of probe into cars and trucks it sold with overseas markets.
"We found that based on the fuel consumption examining data... (the company) done testing improperly to provide better fuel consumption rates versus actual rates, inch Mitsubishi president Tetsuro Aikawa explained to a Tokyo announcement briefing.
He added which the testing method was "different" collected from one of required by Japanese people law, and warned which the carmaker's bottom line would create a hit.
"This seriously isn't a simple problem and we start to use time (to assess the impact), " Mitsubishi's major executive said. "But I'm sure there'll be an impact. The damage will likely be big. "
Even so, this is faraway from being the primary fuel figure scandal from the automotive world, some sort of notable example currently being Hyundai and Kia's exaggerated fuel efficiency results for 2012 in addition to 2013 US products, which led into a $100 000 very good.
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