Mexican Media Brands
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.
#economics #regulations
Share
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.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
