Mitsubishi Motors said on Friday it will post a $480 million special loss for the current fiscal year to pay compensation to customers over years of cheating on fuel-economy tests. Mitsubishi first admitted in April it had been falsifying the tests, manipulating data to make cars seem more efficient than they were.
Since the scandal emerged, its sales in Japan have slumped and the company last month said its president would resign. The scandal reported to cover almost every model sold in Japan since 1991 also includes mini-cars produced by Mitsubishi for Nissan as part of a joint venture.
“We will post a special loss of 50 billion yen ($480 million)” for the year to March 2017, the automaker said, ‘as costs for payments to customers of our company and Nissan Motor’. It has already booked 15 billion yen in payments to customers for the year ended in March.