• Sign in to follow this  
    Followers 0

    Mitsubishi Sets Aside $480 Million for Compensating Owners Involved in the Fuel Economy Scandal


    • Mitsubishi has a plan for compensating owners in Japan

    On Friday, Mitsubishi Motors announced that it will set aside 50 billion yen (about $480 million) this fiscal year to compensate buyers for inflated fuel economy figures. Bloomberg reports that the Japanese automaker admitted that 20 vehicles sold in Japan within the past ten years had false fuel economy data.

     

    Mitsubishi said in a statement they used “desktop calculations” instead of running actual field tests and used the false data on the twenty models built from 2006 to this year. They also lowered the resistance readings on some models to give better fuel economy numbers. Mitsubishi reiterated they didn't find any false fuel economy data on models sold overseas.

     

    The compensation plan will see Mitsubishi pay 100,000 yen (about $955.63) to each minicar owner and pay for the difference in gasoline and taxes separately. Mitsubishi also announced that it expects Japan's transport ministry to approve the recalculated fuel efficiency ratings of its minicars by the end of the month.

     

    One more thing: The investigation being done by three former prosecutors into the scandal are expected to present their results sometime next month.

     

    Source: Bloomberg

    0


      Report Article
    Sign in to follow this  
    Followers 0


    User Feedback


    That figure of money seems LOW for what a company should be planning for as I would expect them to be hit with fines also.

    0

    Share this comment


    Link to comment
    Share on other sites

    In other news: Mitsubishi has $480 million to set aside.

    They must sell a lot of TVs/DVD/Microwaves...etc in the asian markets. 

    0

    Share this comment


    Link to comment
    Share on other sites


    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

    ×   Your link has been automatically embedded.   Display as a link instead

    Loading...



  • Popular Stories

  • Similar Content

    • By William Maley
      Mitsubishi's fuel economy mess in Japan isn't getting any better. The Wall Street Journal reports that the Japanese automaker continued to improperly test the fuel economy of their vehicles a month after admitting that it had manipulated fuel economy figures on their Kei cars. This accusation comes from a new report from Japan's transport ministry. 
      “We cannot help but feel concerned that these points haven’t been improved,” said Naoki Fujii, head of the road transport bureau at the ministry.
      Japan's transport ministry requires the country's automakers to perform five road tests and take the average of median values. In their report, the ministry explained to Mitsubishi workers how to properly do the test. But workers continued to manipulate the tests. Some examples listed in the report include,
      Workers took the average of the best mileage numbers, not the median numbers of the five tests Mitsubishi didn't tell workers doing the tests that you were only to do five Mitsubishi Motors chief executive Osamu Masuko said they are taking the continued problems seriously and laid blame at the “lack of capability” at the division responsible for the testing.
      Of course, this latest allegation puts some questions to Nissan planned acquisition of a controlling stake in Mitsubishi Motors. The deal - worth $2.2 billion - was expected to be finalized by the end of October. Now, it has been pushed back to the end of the year. Nissan's due diligence investigation is taking longer than expected.
      Source: The Wall Street Journal (Subscription Required)

      View full article
    • By William Maley
      Mitsubishi's fuel economy mess in Japan isn't getting any better. The Wall Street Journal reports that the Japanese automaker continued to improperly test the fuel economy of their vehicles a month after admitting that it had manipulated fuel economy figures on their Kei cars. This accusation comes from a new report from Japan's transport ministry. 
      “We cannot help but feel concerned that these points haven’t been improved,” said Naoki Fujii, head of the road transport bureau at the ministry.
      Japan's transport ministry requires the country's automakers to perform five road tests and take the average of median values. In their report, the ministry explained to Mitsubishi workers how to properly do the test. But workers continued to manipulate the tests. Some examples listed in the report include,
      Workers took the average of the best mileage numbers, not the median numbers of the five tests Mitsubishi didn't tell workers doing the tests that you were only to do five Mitsubishi Motors chief executive Osamu Masuko said they are taking the continued problems seriously and laid blame at the “lack of capability” at the division responsible for the testing.
      Of course, this latest allegation puts some questions to Nissan planned acquisition of a controlling stake in Mitsubishi Motors. The deal - worth $2.2 billion - was expected to be finalized by the end of October. Now, it has been pushed back to the end of the year. Nissan's due diligence investigation is taking longer than expected.
      Source: The Wall Street Journal (Subscription Required)
    • By William Maley
      Mitsubishi Motors Reports August Sales

      CYPRESS, Calif., Sept. 1, 2016 /PRNewswire/ -- Mitsubishi Motors North America, Inc. (MMNA) today reported August 2016 sales of 7,336 down 11.5 percent from August of 2015.
        August
      YTD
        2016
      2015
      2016
      2015
      i‐MiEV
      25
      6
      65
      90
      Mirage
      1541
      1569
      15994
      16623
      Lancer
      1089
      1240
      10616
      13154
      Outlander Sport
      2572
      3286
      22948
      24421
      Outlander
      2109
      2188
      17537
      11413
      Total
      7336
      8289
      67160
      65701
       
  • Recent Status Updates

  • Who's Online (See full list)

    There are no registered users currently online