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Unread 05-18-2016, 07:53 AM   #1
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Default Suzuki fuel economy cheating scandal

Suzuki Shares Plunge After Flawed Fuel-Efficiency Test - Bloomberg
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Suzuki Shares Plunge After Flawed Fuel-Efficiency Test[LIST][*] Shares tumble as much as 15% as company reports to ministry[*] Chairman Osamu Suzuki schedules briefing with reporters[LIST]

Suzuki Motor Corp. plunged after saying it used an improper method to test the fuel efficiency of its vehicles, widening a scandal for Japan’s auto industry that first originated with Mitsubishi Motors Corp.
Chairman Osamu Suzuki will report the issue to Japan’s transport ministry Wednesday, spokesman Hidehiro Hirano said by phone. The company hasn’t found a flaw affecting the fuel efficiency of Suzuki vehicles, he said, without elaborating. Suzuki, 86, will brief reporters at 4 p.m. Tokyo time, according to an e-mailed statement.
Suzuki tumbled 9.4 percent, the biggest decline in more than seven years, at the close in Tokyo. The stock had tumbled as much as 15 percent earlier today. The company has a market value of about $11.7 billion, and the stock is down 29 percent this year.
“The impression is bad, especially as the market has become very jittery after the Mitsubishi scandal,” Koji Endo, a Tokyo-based analyst with Advanced Research Japan, said by phone. “Even if they didn’t manipulate data, this is still bad.”
Suzuki, a relatively small automaker, is in a world of hurt. Not only is Suzuki no longer Suzuki anymore (it's owned by Indian company, Maruti), it's cash reserves are much smaller than those of Mitsubishi's.

Suzuki cars aren't known for their fuel economy, so this fuel economy faking scandal is going to be a big dent to their already mediocre fuel economy.

It seems the only Japanese car brands that aren't doing poorly are Toyota, Mazda and Nissan.

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Unread 05-18-2016, 09:17 AM   #2
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I'd hazard against grim expectations of doom directed against car companies. Humble as though Suzuki might be, it's probably going to live through this crisis, too.

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Unread 05-18-2016, 12:52 PM   #3
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Originally Posted by Bennett View Post
Suzuki cars aren't known for their fuel economy, .
with few exceptions (xl7, grand vitara) they are know for building small car with small 4 cyl engines, those engines by default are not gas guzzlers. thus no one really talks about mpg on those cars.

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