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Suzuki shares dive on fuel-testing reports
The fallout from Mitsubishi’s admitted fuel consumption testing irregularities continues in Japan, with both the President and Vice President of Mitsubishi Motors announcing their resignations.
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Mitsubishi president Testuro Aikawa is stepping down over the mileage cheating scandal unfolding at the Japanese vehicle maker.
Aikawa will finish with Mitsubishi on June 24 along with the executive vice president in charge of quality and product strategy, Ryugo Nakao. The carmaker said it reviewed all 16 of its models now available for sale, and that the issues don’t apply to products sold overseas.
Suzuki, Japan’s fourth-largest auto maker said 2.1-million vehicles were affected but CE Osamu Suzuki told reporters that his workers did not intentionally use improper data.
But under a deal with Nissan Motor Co., which is acquiring a 34 per cent stake in Mitsubishi, Nissan has been promised a major role in leading Mitsubishi.
This comes after Mitsubishi’s admission last month that it had falsified fuel economy data for its vehicles.
The Japanese vehicle manufacturer said that their testing method for 16 models wasn’t in-line with official regulations.
Suzuki Motor Corp’s Chairman and CEO Osamu Suzuki speaks during a press conference at the Ministry of Land, Infrastructure, Transport and Tourism in Tokyoon Wednesday.
Suzuki said it measured data related to components such as tires, brakes and transmissions, and combined those results with air resistance tests in the wind tunnel. “In India, all vehicles are tested for road load and emissions by Government-approved agencies such as Automotive Research Association of India (ARAI), International Centre for Automotive Technology (ICAT) and Vehicle Research and Development Establishment (VRDE)”.
Suzuki’s shares fell in Tokyo trading on Wednesday amid Japanese media reports the company might have cheated on its mileage data.
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The carmaker however denied the allegations.