Shares of Mitsubishi Motors on the Tokyo Stock Exchange fell more than 15%.
Mitsubishi's president, Tetsuro Aikawa, admitted handling the fuel consumption tests announced by the brand in 4 different models. For now, it is known that one of the models is the city Mitsubishi eK, developed in conjunction with Nissan and sold in Japan as Nissan DayZ. Still without official confirmation by the brand, the models sold in Europe must not have been manipulated – the tests are different in the European market and in the Japanese market.According to Bloomberg, it was Nissan who discovered the irregularities. In total, tests will have been handled on about 625,000 vehicles.
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Seiji Sugiura, an analyst at the Tokai Tokyo Research Center, admits that, safeguarding differences with the scandal surrounding Volkswagen, this case “could have a similar impact on the level of sales and brand reputation”. Mitsubishi Motors closed yesterday's session (19/04) on the Tokyo Stock Exchange with a drop of 15.16%, the biggest drop since July 2004.
Source: Bloomberg