Mitsubishi is the latest to have been caught fiddling its fuel economy figures
Another car maker finds itself on the naughty step today, this time it’s Mitsubishi caught with its collective fingers in the figurative till.
Like Kia, Hyundai and Ford, Mitsubishi have fessed up to fiddling its fuel economy figures, VW, you will recall, had similar difficulties when it was found to be rigging emissions tests. The markets don’t take kindly to such shenanigans and marked Mitsubishi shares down by a painful 15%. VW shares remain 30% down since their mendacity became public knowledge.
We can safely assume that other manufacturers will have been up to similar tricks and we can expect more revelations of this nature. We think that the false reporting of economy and emission data has potential to become the auto industry’s PPI; a long running nightmare of compensation claims bought by irked governments and wronged consumers the world over. We also think that cash strapped European governments will see this as an opportunity to increase taxes on ICE cars, purely in the interests of the environment and air quality, you’ll understand. If you drive a diesel company car in the UK, for example, this might be a good time to be thinking about replacing it with something electric.
You can read about this latest nail in the coffin of the internal combustion engine in The Guardian.