`Shameful' Mitsubishi Fraud Risks Pushing Carmaker to Brink
- Data manipulation affects about 625,000 minicars in Japan
- Japanese carmaker needed bailouts more than a decade ago
Mitsubishi Admits Cheating: How Many Cars Are Affected?
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Mitsubishi Motors Corp.’s disclosure that it manipulated fuel-economy tests risks putting the Japanese carmaker back in a familiar position: needing help from Mitsubishi group companies to stay in business.
President Tetsuro Aikawa bowed in apology Wednesday before telling reporters the fuel efficiency of 625,000 minicars had been exaggerated by as much as 10 percent. Mitsubishi Motors sank by its daily limit to 583 yen at the close in Tokyo trading. The two-day decline wiped out about $2.5 billion of the company’s market value.