Suzuki motor is the new player to join fuel economy scandal. What is happening to automotive sector?
The latest to join in the automotive scandal is Suzuki motor. Suzuki motor Corp said it had used improper fuel economy testing methods. The news devastated its stock value.
Suzuki Chairman Osamu Suzuki will brief the media at 4pm in Tokyo.( 07:00 GMT).
After Mitsubishi fuel economy scandal in japan, fuel economy compliance came under increased scrutiny by the government. Share value of the Suzuki, fourth largest car maker by sales in japan ,were down by 11 percent in their afternoon trade. It is expected to hit even lower. The reputation of the Suzuki is tumbling.
Japan transport ministry asked the country automakers to re-submit the fuel economy test reports on all their vehicle by Wednesday.This prompted Suzuki motor corp to re-visit the test data, and eventually admit to the authorities about it's previous falsified report. How many vehicles and what level of falsification is yet to know. We will wait for the chairman press conference for further updates.
Suzuki Chairman Osamu Suzuki will brief the media at 4pm in Tokyo.( 07:00 GMT).
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| The Chairman hold his head while answering the question. |
After Mitsubishi fuel economy scandal in japan, fuel economy compliance came under increased scrutiny by the government. Share value of the Suzuki, fourth largest car maker by sales in japan ,were down by 11 percent in their afternoon trade. It is expected to hit even lower. The reputation of the Suzuki is tumbling.
Japan transport ministry asked the country automakers to re-submit the fuel economy test reports on all their vehicle by Wednesday.This prompted Suzuki motor corp to re-visit the test data, and eventually admit to the authorities about it's previous falsified report. How many vehicles and what level of falsification is yet to know. We will wait for the chairman press conference for further updates.
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