Mitsubishi, too, Cheated on Fuel Emission Tests
The problem affected about 625,000 vehicles, including mini-cars “eK Wagon” and “eK Space”, and the “Dayz” and “Dayz Roox”, which Mitsubishi produces for rival Nissan. “We’ve always thought that the Volkswagen emissions scandal would rumble on and now it looks like the dodginess is not confined to the German carmaker,” said Joe Rundle, head of trading at London-based ETX Capital. “Mitsubishi’s bombshell that it’s been falsifying (fuel-economy) tests calls into question whether we have a much larger industry-wide scandal on our hands.”
The rigged figures were discovered after Nissan found inconsistencies in fuel-economy data and reported it. Japan's number-two automaker said it would halt sales of the affected cars. “Today, we have no plans to change our relationship,” it added, referring to its production outsourcing to Mitsubishi.
Mitsubishi sold more than a million vehicles at home and overseas in its latest fiscal year. "Taking into account the seriousness of these issues, we will also conduct an investigation into products manufactured for overseas markets," the carmaker said in a statement.
On Wednesday, Mitsubishi shares plunged 15.16% to 733 yen after local media reported the faulty emissions tests. “This may be different from Volkswagen’s issue, but the market has become very sensitive to such kind of news,” Seiji Sugiura, an analyst at Tokai Tokyo Research Center, told Bloomberg News.
Mitsubishi Motors president Tetsuro Aikawa at a new conference in Tokyo on Wednesday