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Car giant’s shares sink amid emissions fraud

by Purvai Dua
9th Jul 18 4:20 pm

Shares in Nissan plunged 4.56 per cent today after it admitted that data on exhaust emissions and fuel economy had been deliberately “altered”.

The Japanese car giant did not say how many cars were affected by the falsifications. It, however, said that it found the testing environments for emissions and fuel economy in final vehicle inspections at most of its factories in Japan were not in line with requirements, and that inspection reports were based on altered measurements.

“A full and comprehensive investigation of the facts … including the causes and background of the misconduct, is underway,” the statement added.

According to Michael Minall, automotive sector specialist at Vendigital: “Following steadily declining sales over the past few years, this latest announcement from Nissan could well signify the death of diesel. While the 2015 VW emissions scandal marked a watershed moment for the automotive industry, this announcement from Nissan is unlikely to have a significant impact on demand for diesel-engine cars…

“In 2015, VW’s emissions-rigging highlighted the disparity between real-world performance of diesel engine cars and laboratory test results. These latest revelations have once again pushed the issue into the spotlight, at a time when many consumers have also lost confidence in diesel. While the findings of Nissan’s investigation and the immediate impact of the news on automotive suppliers is unlikely to be significant, it certainly represents another nail in the coffin for the diesel car market.

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