Shares of Toyota, Mazda, Honda and Suzuki fall after safety scandal

[Dr.Kamiya]

Shares of Toyota, Mazda, Honda, Suzuki fall after safety scandal | CNBC

New safety scandal just broke. This seems to affect the main Toyota company this time, not just their subsidiaries. Mazda and Toyota have halted sales of some models.

Shares of Japanese automakers have largely plunged since the country’s Transport Ministry found false data used to certify certain models a week ago on Monday.

The stock of Japan’s largest carmaker, Toyota, fell more than 5.4% last week, after the scandal broke on June 3, but is recovering on Monday. The automaker lost 2.45 trillion Japanese yen ($15.62 billion) in market value last week alone.

Shares of Mazda
, the country’s second-largest automaker, dropped 7.7% in the same period, and lost 80.33 billion yen in market capitalization last week.

The wide-ranging inspection by the Ministry of Land, Infrastructure, Transport and Tourism also found irregularities in certification applications by other automakers Honda, Suzuki and Yamaha.

Last week, Honda’
s stock fell 5.75% and Yamaha Motor
lost 2.2%, while Suzuki Motor
inched down 0.3%.

Japan auto safety scandal widens, Toyota halts some shipments | reuters.com

Toyota said its wrongdoing occurred during six different tests conducted in 2014, 2015, and 2020. Affected vehicles were three production models - the Corolla Fielder, Corolla Axio and Yaris Cross - and discontinued versions of four popular models, including one sold under the Lexus luxury brand.

[dr. d]

Shares of Toyota, Mazda, Honda, Suzuki fall after safety scandal | CNBC

New safety scandal just broke. This seems to affect the main Toyota company this time, not just their subsidiaries. Mazda and Toyota have halted sales of some models.



Japan auto safety scandal widens, Toyota halts some shipments | reuters.com

if i know the filipino costumer,
it wouldn't make a significant dent in the philippine market.
if they offered discounts to drum up sales of these so-called defective units, baka nga dumami ang bibili.
heh heh.

[H1Tman]

What I understand is, hindi naman yata failed sa tests? Hindi lang kasing-ganda as publicized?

[dr. d]

What I understand is, hindi naman yata failed sa tests? Hindi lang kasing-ganda as publicized?

yespo.
from what i understand,
whatever it is the result-fixing was attempting to cover,
it is not an issue locally, as the "inferior" results are not an issue here.

[ale828]

when VW had the Emissions Scandal in 2014-2015, they were demonized and had a big backlash from the car community worldwide.

Now Toyota has this safety scandal yet i don't see a lot of negative reactions from the car community yet.

[dr. d]

when VW had the Emissions Scandal in 2014-2015, they were demonized and had a big backlash from the car community worldwide.

Now Toyota has this safety scandal yet i don't see a lot of negative reactions from the car community yet.

personally,
my more pressing concern would be the price of the car...

[Yatta]

Yanaha too!

Just a moment...

[oj88]

From what I can gather, this "scandal" is more about procedural errors, mis-application, and/or incorrect execution during the certification process. Though I can't substantiate it, suffice to say, it's nowhere near quite as nefarious as the VW scandal, IMO.

In other words, there's incompetence and there's outright deception.

[Dr.Kamiya]

Mazda is the most serious because it seems they were actually cheating in the engine and crash tests. Engine of the Miata using modified software ala-VW, then crash test of the Atenza/Axela (aka Mazda6/Mazda3) the airbag deployment was triggered using a timer instead of using the crash sensors.

Mazda suspended shipments of its Roadster RF sports car and the Mazda2 hatchback from Thursday last week after finding that workers had modified engine control software test results, it said in a statement.

It also found that crash tests of the Atenza and Axela models, which are no longer in production, had been tampered with by using a timer to set off airbags during some frontal collision tests, instead of relying on an on-board sensor to detect a hit.

Honda seems pretty wild too, with "two dozen models" affected. I can't name that many cars from them, so surely this is affecting just about everything they were making. Doesn't seem to be a safety issue, but "noise and output" might mean the car isn't as strong as advertised if also sticking to advertised NVH figures. Either NVH goes up, or HP goes down.

Honda said it had found wrongdoing in noise and output tests over a period of more than eight years to October 2017 on some two dozen models that are no longer being produced.

Source article: Japan safety scandal: Toyota, Mazda halt some shipments as auto scandal widens | CNN Business

[carxynogen]

That's the Japanese, they won't hesitate to admit wrongdoings and if possible, will resign if need to.
Im hoping no one will commit suicide due to this case.