Fuel economics, which led Mitsubishi to reduce share assets in time

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Fuel economics, which led Mitsubishi to reduce share assets in time

Mitsubishi admitted that he has been using incompatible test techniques since 1991 and led to inflating fuel efficiency numbers.

This irregularity did not only affect consumers. By violating Japanese items, it also caused great results for the car manufacturer. If you’re ready, let’s see what this scandal is the original lining.

It all started with the confession of Mitsubishi.

In 2016, the Great Scandal exploded in 2016, admitting that Mitsubishi admitted that he had consciously manipulated the data in fuel consumption tests.

The manipulations quickly affected 600 thousand vehicles! They used test procedures that did not comply with the regulations and laws in Japan. Moreover, this fraud was not new. It has been going on for 10 years.

Cars were consuming more fuel than officially mentioned assets.

The affected models, including those produced for Nissan, spend more fuel than official fuel consumption assets, so that consumers were misleading.

As a result, Mitsubishi, faced with the heavy examination of the government and the public, submitted with derived and financial sanctions.

After the disclosure, the company had to endure heavy results.

The share of the company fell more than 40 %in the weeks after fraud emerged and destroyed the belief of investors. The market value fell by $ 3.9 billion. Tetsuro Aikawa, CEO of the company, resigned.

Mitsubishi found the way out to be a segment of the Nissan-Renault alliance.

Nissan Motor Co., Mitsubishi Motors’ 34 %inspection share of $ 2.2 billion. Thus, Mitsubishi made an attack to recover his reputation and ensure his financial stability by entering the Renault-Nissan alliance, but he did not delete the black mark on the company.

Sources: CNN, ABC

Scandals do not end here: