Falsified tests cause car giant’s shares to fall

Shares in Mitsubishi have plunged after it admitted to falsifying fuel economy test data, as City analysts warned it could face a bill of up to 450 million euro (£354 million) as a result.

The Japanese car manufacturer’s shares plummeted 15% in Tokyo as it revealed inaccurate tests had been carried out on more than 600,000 vehicles.

The announcement is the latest scandal to hit the automotive industry after Volkswagen admitted using software to allow diesel vehicles to cheat emissions tests.

Lance Bradley, managing director of Mitsubishi Motors in the UK, said: “I would like to reassure everyone there is no evidence to suggest that UK or European models are affected.”