Philippine Daily Inquirer

New scandal hits Mitsubishi Motors

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TOKYO—Mitsubishi Motors suffered another rout on Friday, capping a disastrous week that has seen its shares plunge more than 40 percent after the automaker’s shock admission that it cheated on fuel-efficiency tests. The news that unnamed employees had made some of its cars seem more fuel-efficient than they were in reality has sent the firm into free fall, wiping $3.2 billion off its market capitaliza­tion. The scandal also raised questions about the company’s future as it faces the prospect of huge fines and lawsuits and comes as German auto giant Volkswagen struggles to restore its badly dented reputation after revelation­s in September of emissions rigging.

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