Japan's Mitsubishi Motors to resume sales after latest cheating scandal
Japanese automaker Mitsubishi Motors Corp <7211.T> will resume domestic sales of eight vehicle models on Oct. 1, the company said on Friday, after correcting overstated mileage readings in its second cheating scandal this year. 7211.T>
Japan's sixth largest automaker has admitted it falsified the mileage on 12 models, including the Pajero and Outlander SUV, taking a blow to its reputation.
The latest suspension came after a two-month suspension in sales of four minivehicle models this year, including two produced for Nissan Motor Co. <7201.T>, following the initial admission of incorrect fuel economy readings. 7201.T>
The market value of the company has tumbled since that scandal broke, prompting it to seek financial assistance from Nissan, which agreed to buy a controlling one-third stake for $2.2 billion.
Japan is Mitsubishi's fifth-largest market, following markets including Asia ex-Japan, Europe and other regions. Its home country comprised roughly 10 percent of its vehicle sales during 2015/16.
(Reporting by Maki Shiraki and Naomi Tajitsu; Editing by Clarence Fernandez)