Mitsubishi Motors is involved in a scandal, which has disrupted their sale and market equity as well. Now the Japanese-based automobile manufacturer has to take several steps to rectify their issue.
Tetsuro Aikawa, Mitsubishi Motors President, will be biting the bullet. He will have to step down from his post, owing to the involvement in the fuel economy scandal. With him, Mitsubishi will also be letting go of two of their Directors.
Stepping into the shoes of Tetsuro Aikawa will be Osamu Masuko, who is the Chairman currently at Mitsubishi. At the moment, a third party investigation is underway and the final report will be revealed in June-July. By this time, Tetsuro Aikawa will announce his stepping down as President.
Mitsubishi had made an error by overstating fuel economy figures in over 6,25,000 vehicles. The scandal also affects Nissan, as a few vehicles were cross-badged and sold in the Japanese market. It is still unclear if models sold out of Japan also have overstated fuel economy figures.