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Business

Mitsubishi to pay $600 mln for mileage fraud

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Business

Mitsubishi to pay $600 mln for mileage fraud

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COMING UP:Mitsubishi to pay $600 mln for mileage fraud

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00:00:02
>> Mitsubishi paying up for years of cheating on mileage. The Japanese auto giant on Friday, saying it plans to hand over $600 million in compensation to car owners affected by false readings. Mitsubishi admitted in April that it overstated fuel economy data on four different models, two of which were made for Nissan.
00:00:20
Each vehicle owner now set to receive around a thousand dollars from the company. Mitsubishi blames the scandal on pressure to deliver good mileage and poor supervision of tests. What's not clear is what might be offered for other vehicles, where it used bad data. Earlier this week, a local media reported that Mitsubishi faked fuel numbers on at least three more models and ten which are no longer on the market.
00:00:41
The scandals forced Mitsubishi to mark down last year's earnings, shake up management and plan to sell a third of itself to Nissan. It's also sparked scrutiny on other Japanese auto makers and investigation into Suzuki, found the company has been fudging data since 2010.