Mexican Media Brands
MMC President Confirms Resignation Over Fuel Economy Cheating
Mitsubishi Motors Corp. President Testuro Aikawa confirmed earlier today he will resign after the company’s shareholder meeting in June because of the company’s fuel economy cheating scandal.
#economics
Share
Mitsubishi Motors Corp. President Testuro Aikawa confirmed earlier today he will resign after the company’s shareholder meeting in June because of the company’s fuel economy cheating scandal.
Ryugo Nakao, MMC’s vice president of product development, will step down at the same time and for the same reason.
The company insists that upper management wasn’t directly involved in rigging fuel economy ratings. But Aikawa concedes that management’s demands that its engineers meet high fuel efficiency targets in a short period may have helped create an environment where “irregularities happen.”
Aikawa’s career included time on MMC’s product development team, where the company says the wrongdoing occurred. He and Nakao say they decided to resign to avoid hindering the “drastic change” needed to reform the company.
MMC told Japan's Ministry of Land, Infrastructure, Transport and Tourism that a company investigation showed its staff sometimes arrived at fuel efficiency results for new cars by borrowing data from earlier tests of similar vehicles. Nakao says the people who failed to conduct new tests as required by law “lacked common sense.”
RELATED CONTENT
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
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.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.