According to Bloomberg, Mitsubishi modified the load weight of the cars during testing, which made them appear more efficient. This was the stock’s biggest one-day plunge since 2004, Bloomberg News reported.Shares in the company closed pump motors Suppliers down more than 15 per cent at 733 yen.Mitsubishi Motors sold just over one million cars last year.The issue came to fore after Nissan found inconsistencies in around 470,000 vehicles that Mitsubishi made for Nissan.

The Japanese carmaker said it would stop making and selling those cars, and has set up an independent panel to investigate the issue.The models which got affected include Mitsubishi’s ek Wagon and eK Space, as well as Nissan's Dayz and Dayz Roox.Tetsuro Aikawa, president of Japan’s sixth-largest automaker by market value, bowed in apology at a news conference here for what is the biggest scandal at Mitsubishi Motors since a defect cover-up over a decade ago. At that time, Mitsubishi was struggling to launch a turnaround as it teetered on the edge of bankruptcy, hit by a lack of cash and a series of huge recalls.Mitsubishi Motors is the first Japanese automaker to report misconduct involving fuel economy tests since Volkswagen was discovered last year to have cheated diesel emissions tests in the United States and elsewhere..South Korean car makers Hyundai Motor Co and affiliate Kia Motors Corp in 2014 agreed to pay 0 million in penalties to the US government for overstating their vehicles’ fuel economy ratings.2 billion from its market value on Wednesday.The company said on Wednesday the test manipulation involved 625,000 vehicles produced since mid-2013. Apart from cars made for Nissan, 157,000 Mitsubishi cars are affected by this falsification.

They also resolved claims from car owners. It was Japan’s worst automotive recall scandal at the time.Mitsubishi Motors Corp said on Wednesday that it falsified fuel economy test data to make emissions levels look more favourable, and its shares slumped more than 15 per cent, wiping .According to the Japanese carmaker, tyre pressure figures were falsified by employees to flatter mileage rates. These include its eK mini-wagon as well as 468,000 similar cars it made for Nissan Motor. Four years later it admitted to broader problems going back decades.In 2000, Mitsubishi Motors revealed that it covered up safety records and customer complaints