Japan’s sixth-largest automaker had lost half its market value around $3.9 billion after last week’s admission that it overstated fuel economy of four domestic minivehicle models, including two produced for Nissan Motor Co.
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What is more concerning is Mitsubishi Motors have been testing passenger cars using a method not compliant with Japanese standards since 2002, according to Aikawa.
The latest twist will likely fuel speculation that the misconduct stretched to vehicles sold overseas and will send the number of affected vehicles soaring from the more than 600,000 already known.
Japanese automaker Mitsubishi Motors admitted Tuesday that it had manipulated parts for better fuel economy ratings on its cars.
He said: “We should have switched but it turns out we didn’t”. It said it would set up an external committee to investigate the matter and report the results in three months. “I can not say sorry however assist”.
Mitsubishi Motors falsified tests on fuel consumption since 1991, much earlier than originally claimed by the company, according to a source found by Reuters.
The U.S. Environmental Protection Agency has instructed Mitsubishi to submit additional information regarding vehicles it sells in the U.S., a spokeswoman said Tuesday. It’s unclear at the moment how widespread this manipulation was, or how many vehicles it affects, but the backlash against Mitsubishi has been swift. It said it wanted an explanation by May 11.
Mitsubishi president Tetsuro Aikawa told reporters this week an internal probe by the company continues, and that he is unsure why employees resorted to tampering with data. This indicates that the embattled automaker may have been aware of its method’s illegality even back then, the sources said.
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Mitsubishi had repeatedly promised to come clean after a huge scandal 15 years ago that involved a systematic cover-up of vehicle defects. Government officials also hinted the automaker could be punished with monetary fines or forced to reimburse government tax rebates the minicars received based on fuel economy estimates.
