Mitsubishi Admits Cheating Goes Back 25 Years

Car (HKSE: 0699-OL.HK - news) maker Mitsubishi (LSE: 7035.L - news) has been cheating on fuel economy tests for 25 years, it admitted.

The Japanese company acknowledged last week that it had manipulated tests on some of its own brand and Nissan cars.

It (Other OTC: ITGL - news) said at the time that the rigging went back to 2002 and involved 600,000 models but an internal probe has now found such tampering dates to 1991 and the total number was not known.

Shares (Berlin: DI6.BE - news) in the Tokyo-based company have plummeted since the initial revelations, wiping billions of pounds off its market value and Japanese transport officials have raided the firm's offices.

The car maker has said that there was no evidence to suggest that UK or European models were affected.

Mitsubishi president Tetsuro Aikawa said following the latest revelations that the company's internal probe was ongoing.

He said: "We don't know the whole picture and we are in the process of trying to determine that. I feel a great responsibility."

Mr Aikawa added that it was unclear how many customers were going to be compensated because the extent of the manipulation was still under investigation.

It comes amid widening concerns over irregularities among global car makers following Volkswagen (LSE: 0P6N.L - news) 's admission that it cheated on diesel emissions tests.

The German company last week reported its first annual loss for two decades after its provision for the scandal increased to €16.2bn (£12.7bn).

Meanwhile, the German government said a probe sparked by the scandal had found anomalies in 16 global brands – though the "defeat device" technology used by VW was not employed by other car makers (Other OTC: UBGXF - news) .