The market value of Japanese automaker Mitsubishi Motors fell by a third because of the scandal of falsification of data on fuel consumption, with the involvement of the company. About it reports BBC News.
Shares of the concern on Wednesday, 20 April, fell more than 15 percent, and 21 April to 20 per cent. Trading in securities Mitsubishi were suspended after the share price dropped to 583 yen (5.34 per dollar), before they fell from 864 to 733 yen.
On 20 April, the leadership of Mitsubishi Motors has submitted an application to the Ministry of transport of Japan, which admitted that the automaker has falsified the results obtained when testing the fuel consumption of small cars. In particular, when testing the company’s representatives used a lower rate of resistance than was required. Estimated automaker, violations were made during the testing of 625 thousand cars.
The next day the Japanese authorities have raided the headquarters of Mitsubishi Motors in Okazaki. In a press-service of the government said that perceive the incident as “very serious case” and that the company is required to provide about the incident. Mitsubishi and Nissan suspended sales of these vehicles, the company discuss the terms of compensation for violations.
This is not the first scandal in which was involved the concern Mitsubishi Motors. In 2000, the Japanese Minister of Kimitaka Kuze confessed to receiving large bribes from the manufacturer. In the same year, the company recalled almost 700 thousand cars for elimination of various malfunctions. Then it became known that she hid complaints of buyers to defects and faults in the cars sold.
Mitsubishi Motors is one of the largest Japanese automotive corporations, a part of Mitsubishi industrial group with its headquarters in Tokyo. It unites the assets in the field of aerospace and automotive companies, electronics, power equipment. In Russia sales of Mitsubishi vehicles since the beginning of 2015 down amid negative trends in the economy and falling of demand for cars.
