Mitsubishi Motors fall 13 per cent

Shares in Mitsubishi Motors Corp closed down 13.55 per cent in Tokyo following revelations this week that the company had manipulated fuel consumption test results.

Trading was halted Thursday in the company's shares in the wake of the scandal.

The Japanese carmaker's bosses admitted Wednesday that it had manipulated test results to present better fuel consumption rates for its smaller cars.

The company’s shares had already fallen over 15 per cent on Wednesday.

The scandal involves a total of 625,000 vehicles of four models, including cars sold by another Japanese car giant, Nissan.

Last update: Fri, 22/04/2016 - 12:13

More from Business

Bombardier announces 7,500 job cuts as part of restructuring

Canadian aircraft and train manufacturer Bombardier will cut a further 7,500 jobs as part of its ongoing...

Tobacco giant BAT makes 47-billion-dollar takeover bid for US rival

British American Tobacco Plc said on Friday it has offered some 47 billion dollars to acquire 57.8 per cent of...

ECB to hold rates, decides against extending bond-buying scheme

The European Central Bank left its key interest rates at historic lows on Thursday and left its 80-billion-euro-a-...

Nissan finishes purchase of 34-per-cent stake in Mitsubishi Motors

Nissan Motor has completed its purchase of a 34-per-cent stake in scandal-plagued Mitsubishi Motors for 237 billion...

EU seeks to strengthen trade defence measures as China threat looms

The European Commission proposed a new compromise Wednesday to protect EU industry against unfairly cheap imports,...