Mitsubishi Motors Admits Falsifying Fuel Economy Tests, Shares Plunge

© RIA Novosti . Vladimir Astapkovich / Go to the mediabankMitsubishi Pajero at Moscow Internatioanl Automobile Salon at Crocus Expo in a 2014 file photo
Mitsubishi Pajero at Moscow Internatioanl Automobile Salon at Crocus Expo in a 2014 file photo - Sputnik International
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Mitsubishi Motors Corporation (MMC) on Wednesday admitted falsifying fuel consumption rate tests on the company's mini-cars, which led to a significant decline in MMC stocks.

MOSCOW (Sputnik) —According to the press release, 625,000 mini-cars of the eK Wagon, eK Space, Dayz, and Dayz Roox models, manufactured by MMC and distributed through Nissan Motors Corporation (NM), have been sold with improper fuel consumption results.

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"In connection with the certification process for the mini-cars manufactured by MMC, we found that with respect to the fuel consumption testing data submitted to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), MMC conducted testing improperly to present better fuel consumption rates than the actual rates; and that the testing method was also different from the one required by the Japanese law," MMC said in a press release.

Shares in Mitsubishi Motors dropped by 15% in Tokyo following the news, making it the biggest single-day share-price fall for the company since 2004.

Both MMC and NM have stopped production and sales of the affected models and discussions regarding compensation are already underway.

Earlier, Hyundai, Kia and Ford were involved in similar scandals related to the falsification of fuel economy tests.

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