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Mitsubishi Falsified Fuel Economy Data for 25 Years
Mitsubishi Motors Corp. says its internal investigation shows the company evaded Japan’s fuel economy certification procedures and has falsified test data for its cars since 1991.
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Mitsubishi Motors Corp. says its internal investigation shows the company evaded Japan’s fuel economy certification procedures and has falsified test data for its cars since 1991.
Last week MMC said the cheating involves at least 625,000 of its best-selling eK minicars and variants supplied to Nissan Motor Corp. as the Dayz and Dayz Roox microvans. But the company concedes the same illegal procedures were used to certify other models too.
Bloomberg News notes that today’s revelation sent MMC’s stock price plunging to a record low of 427 billion yen ($3.9 billion), half its market value a week ago.
The scandal follows two others that badly damaged MMC’s reputation. The company was found guilty in 2000 of hiding customer complaints from government agencies. In 2004 it admitted covering up safety defects for nearly three decades. This year’s crisis suggests MMC has failed to cleanse its corporate culture. Some analysts question the company’s ablity to survive.
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