So I guess a big car company in Hong Kong lied about its fuel economy tests in favor of, well, being more fuel efficient. Now top executives are paying the price. Sweet Justice wins again.
Top executives at Mitsubishi Motors are resigning, weeks after the company admitted it falsified fuel economy tests affecting hundreds of thousands of cars.
President Tetsuo Aikawa and Vice President Ryugo Nakao will step down from their posts on June 24 at a general shareholder’s meeting, the company announced Wednesday.
Mitsubishi said last month it had fudged fuel efficiency tests in a scandal that has now spread to 13 models and goes back a quarter century. Investors have reacted by erasing roughly 32% of the company’s stock value over the past month. -CNN Money
Ouch! That had to hurt. Here’s the thing though. How long until American car makers are found to be lying about their fuel efficiency too?