After seeing half of its market value gone since the first announcement, Mitsubishi formed a special committee to investigate the improper fuel economy testing procedure.
What it came up with was that the company has been rigging its bfigures for the past 25 years.
“Customers bought our cars based on incorrect fuel-economy data,” President Tetsuro Aikawa said during a press conference today. “I can’t help but apologize.”
The company’s president also said that Mitsubishi hasn’t decided yet how they will compensate customers and that he wasn’t aware of the improper testing.
Mitsubishi announced last week that more than 600,000 of their cars have falsified fuel economy figures, mainly by tampering the tire pressure figures in order to improve the numbers. 468,000 of them were manufactured for Nissan which first uncovered the false data used in the fuel consumption tests.
“The board of directors decided to establish a special investigation committee consisting of only external experts. Mitsubishi Motors expresses its most sincere apologies to all of our customers, shareholders, and stakeholders for any inconvenience or concern caused by this occasion”, said the company in their latest statement.
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