Akio Toyoda, Chairman of the Board of Directors of Toyota Motor Corporation, bows during a press conference in Tokyo on June 3, 2024.
Yuichi Yamazaki | AFP | Getty Images
Shares of Japanese automakers have fallen sharply since the country’s recession Ministry of Transport discovers false data Used to certify certain models a week ago on Monday.
Shares of Toyota Motor, Japan’s largest automaker, fell more than 5.4% last week after the scandal broke out on June 3, but began to recover on Monday. Last week alone, the automaker lost 2.45 trillion yen ($15.62 billion) in market value.
shares MazdaThe country’s second-largest automaker fell 7.7% over the same period, losing 80.33 billion yen, or $511.8 million, in market value last week.
wide range Ministry of Land, Infrastructure, Transport and Tourism inspection Other automakers including Honda, Suzuki and Yamaha also had irregularities in their certification applications.
last week, Honda’S shares fell 5.75%, Yamaha engine fell 2.2%, while Suzuki Motors It fell slightly by 0.3%.
Shares of all these companies were higher on Monday. Toyota rose 1.7%, Honda rose 2.13%, and Mazda rose 1.7%. Shares of Suzuki and Yamaha also rose slightly.
All five companies submitted false test data or, in the case of Toyota and Mazda, falsified the vehicles used in crash tests.
Toyota announced on June 3According to the department’s investigation report, Japan will temporarily suspend shipments and sales of three models currently produced in Japan, namely the Corolla Fielder, Corolla Axio and Yaris Cross.
Toyota Chairman Akio Toyoda apologized to the company’s customers and stakeholders, admitting that seven of its models “were tested using methods that differed from standards defined by national authorities.”
Respectively, Mazda says it has suspended The Roadster RF and Mazda 2 are on sale from May 30.
However, both companies said customers can still continue to drive their cars.
The Ministry of Transportation said it would conduct on-site inspections at five companies that were reported to have engaged in inappropriate behavior.
Inspection of Japanese carmakers comes amid Toyota’s Daihatsu subsidiary said in December it would stop shipments All vehicles overseas and in Japan. Previous investigations into the safety scandal found problems with about 64 models, 22 of which were sold under the Toyota brand.
Dafa stated in April last year that 88,000 small cars tested for side impact safetymost of which are sold under the Toyota brand.
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