Mitsubishi Motors predicting first loss in 8 years

Posted On June 22, 2016 By In Business, Technology, Top Stories


Mitsubishi Motors says it’s expected to post a net loss for fiscal 2016 of 1.4 billion dollars. It will be the first such plunge in 8 years.

Executives with the company delayed the release of the group’s earnings forecast following revelations that it rigged fuel-efficiency data.

They say the company is likely to log a special loss of more than 1.4 billion dollars. That’s to compensate owners of the 9 affected models, including mini-vehicles, parts manufacturers and dealerships.

Nissan Motor would also receive compensation, as 2 of the models were produced for the firm.

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