Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Mitsubishi expects net loss post mileage cheating scandal
  • Business

    Mitsubishi expects net loss post mileage cheating scandal

    Divya
    Written by
    Divya
    Mail
    Last updated on Jun 22, 2016, 07:39 pm
    Mitsubishi expects net loss post mileage cheating scandal
    Credits:
  • Following the mileage cheating scandal, Mitsubishi expects to suffer annual loss this financial year.

    As reported by Kyodo News Agency, slide in sales value and compensation costs have resulted in the expected net loss.

    Last week, the automaker announced to pay a compensation of $1000 for overstating mileage readings, costing reimbursement of $600m.

  • In this article
    Mitsubishi mileage scandal Top officials unaware of cheating Diminishing markets for Mitsubishi After-effects of Mitsubishi mishaps Mitsubishi expects net loss post mileage cheating scandal Sales could resume soon
  • Apr 2016

    Mitsubishi mileage scandal

    Mitsubishi mileage scandal
  • In April, Mitsubishi Motors Corp. was found manipulating the fuel efficiency of its mini-cars.

    The leading automaker falsified the data to meet in-house fuel efficiency targets.

    On April 26, Mitsubishi confessed guilty of using flawed methods to test fuel economy for past 25 years.

    Mitsubishi admitted of publishing exaggerated mileage ratings for all models sold in Japan.

  • Quote

    Top officials unaware of cheating

  • Chairman of Mitsubishi Motor Corp. Osamu Masuko said that he and other top executives had been unaware of the cheating being practiced in fuel-economy testing methods.

  • 11 May 2016

    Diminishing markets for Mitsubishi

    Diminishing markets for Mitsubishi
    Credits:
  • Mitsubishi lost major hold over market post the scandal in 2000s where the company's officials admitted hiding reports of dangerous vehicle defects.

    While only 10% of its production is sold in Japan, the automaker's favored market remains Southeast Asia and Russia.

    Mitsubishi has lost $2.5 billion market value post admission of cheating.

  • Jun 2016

    After-effects of Mitsubishi mishaps

    After-effects of Mitsubishi mishaps
  • The sale and production of 6,25,000 affected models has been stopped.

    All the financial expenses hereafter, would be held by the group company.

    Fall in the share value of Mitsubishi has wiped out 40% of its market capitalization.

    Nissan has agreed to take 1/3rd controlling stake in Japan's once leading automaker Mitsubishi.

  • 22 Jun 2016

    Mitsubishi expects net loss post mileage cheating scandal

    Mitsubishi expects net loss post mileage cheating scandal
    Credits:
  • Following the mileage cheating scandal, Mitsubishi expects to suffer annual loss this financial year.

    As reported by Kyodo News Agency, slide in sales value and compensation costs have resulted in the expected net loss.

    Last week, the automaker announced to pay a compensation of $1000 for overstating mileage readings, costing reimbursement of $600m.

  • Information

    Sales could resume soon

  • Transport Minister Keiichi Ishii announced today that Mitsubishi could resume sales of cars involved in mileage cheating scandal even when the fuel economy was roughly 11% lower than advertised.

Latest News
  • Netflix orders 'Terminator' anime, series to expand parent franchise
    Netflix orders 'Terminator' anime, series to expand parent franchise
    Entertainment
  • Chelsea vs Manchester United: Head-to-head, stats and form guide
    Chelsea vs Manchester United: Head-to-head, stats and form guide
    Sports
  • Netflix to pump in $500mn for Korean content this year
    Netflix to pump in $500mn for Korean content this year
    Entertainment
  • ISRO launches Brazil's Amazonia-1, 18 satellites; first launch of 2021
    ISRO launches Brazil's Amazonia-1, 18 satellites; first launch of 2021
    India
  • India vs England: ODIs to be played behind closed doors
    India vs England: ODIs to be played behind closed doors
    Sports
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani Gross Domestic Product
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Farmers Protest Mohammed Bin Salman
Mercedes Europa League Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar
Premier League Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021