UPDATE: 11am, 18 May 2016 Mitsubishi president Tetsuro Aikawa has announced he will step down following his company’s admission to cheating fuel efficiency tests, something that dates back to 1991 when Japan introduced new regulations. Following the admission in April, Mitsubishi’s shares tumbled 50 per cent. Quite what they’ll do now Aikawa – who became president and chief operating officer of Mitsubishi in June 2015 – has stepped aside, remains to be seen. Elsewhere, two other Japanese carmakers now have their names involved in the controversy. Suzuki has announced “discrepancies” in fuel economy and emissions testing of 16 Japanese market models, but says that the end results of the tests require no amendment. Its shares have fallen nonetheless. Nissan, meanwhile, has faced accusations from South Korea that some of its UK-made Qashqais have defeat devices fitted to their engines. The South Korean government apparently plans to fine Nissan round £200,000, but the Japanese company firmly denies any wrongdoing. UPDATE: 3pm, 12 May 2016 A Volkswagen statement has asked shareholders to support the actions of its senior management in the wake of the emissions scandal. “The Supervisory Board of Volkswagen AG has recommended to Volkswagen’s 2016 Annual General Meeting that the actions of the serving members of the… Read full this story
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