Mitsubishi shares hit record low on fuel economy data cheat

Days after Mitsubishi Motors Corp. admitted it manipulated fuel economy data on cars, the company’s stock is at a record low.
 
As of Thursday, the stock had lost $2.5 billion – one-third of its value – just two days after Japan’s sixth-biggest car manufacturer admitted to the deception, according to Fortune.
 
The manipulated data affects about 625,000 vehicles that were only sold in Japan, according to Mitsubishi.
 
The automaker joins three other companies that have recently misled regulators and customers regarding emissions ratings. Last year Volkswagen AG was found to have cheated U.S. fuel economy tests, and in 2014, South Korean manufacturers Hyundai Motor Co. and Kia Motors Corp. paid the U.S. government penalties of $350 million for falsely stating vehicles’ fuel ratings.
 
Read more from Fortune.