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Not only has the gloomy global outlook kept the pressure on vehicle sales, the global auto sector has been also rocked by news of falsified emission and fuel-efficiency results.
The twin scandals affected primarily the share prices of Volkswagen and Mitsubishi. Volkswagen lost almost 20% following the news, tumbling below $100. But it has since recovered strongly, as the world’s largest company reported a robust financial result in 2015 in spite of sizable provisions made for the consequences of the emission issue. Mitsubishi plummeted over 40% to sub-500 yen within three days following news concerning manipulated fuel-efficiency tests.