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Mitsubishi’s Sales Dropped to Half

Japanese auto manufacturer Mitsubishi Motors has said that domestic orders for its vehicles have halved since it disclosed last week that it had been rigging fuel potency tests.

Company president Tetsuro Aikawa said that the case was “very serious” however said that he had no plans to resign straightaway.

He also said he didn’t apprehend if sales abroad had been affected yet.

Shares within the company have over halved since the scandal broke.

Investors are distressed that Mitsubishi Motors – Japan’s 6th-largest auto manufacturer – can face fines and compensation claims.

Last week, Mitsubishi admitted that it had falsified fuel economy information for 4 “minicar” models sold  solely in Japan.

The inaccurate mileage tests involved 157,000 of its eK wagon and eK space, and 468,000 Dayz and Dayz Roox vehicles made for Nissan. All were sold in Japan solely.

Then on Tues, the corporate admitted to manipulating test data for the past twenty five years, so much longer than at first thought.

Mitsubishi’s board has formed a panel to analyze the case, and the United States of America regulators have conjointly launched an investigation into whether or not the automotive models complied with their fuel economy rules.

At a group discussion on Wednesday, Mitsubishi Motors said that due to uncertainty regarding the potential harm to its brand it couldn’t make forecasts for the year 2016-17.

Nevertheless, Mr. Aikawa was ready to announce better-than-expected results for the upcoming year.