Mitsubishi Motors Corp. has announced that it will set aside a sizeable sum of 50 billion yen (approximately 645 million AUD) over this fiscal year solely to compensate buyers affected by the fuel economy manipulation perpetrated by the Japanese automaker.
The recent revelation that Mitsubishi was falsifying fuel economy numbers by altering certain parameters during the official emissions test came to light in late April, leading to a downward spiral in the company’s market valuation.
This had led to the Renault-Nissan Alliance stepping in with a bail out purchase of nearly 3 billion AUD for a controlling stake (34 percent) in the manufacturer following the departure of two top executives.
Internal investigations reveal that Mitsubishi’s overstatement of fuel economy figures cover up to 20 models sold over the past decade in its domestic market of Japan.
Reportedly, owners of the affected minicar model will be receiving a monetary compensation of 100,000 yen each (approximately $1,284) which constitutes the most widespread of vehicles involved. Meanwhile, owners of the five other models will be payed 30,000 yen each (approximately $385).
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