Mitsubishi Motors has admitted to using improper fuel economy testing methods to make emissions levels more favourable. Following the news, the company’s shares dropped more than 15%, a decrease of $1.2 billion (AED 4.4 billion) from its market value and the biggest drop in twelve years. It’s seen as the biggest scandal involving the Japanese carmaker since 2000, when it revealed it covered up safety records and customer complaints. Mitsubishi president Tetsuro Aikawa bowed in apology at a news conference in Tokyo.
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