Reported 10 months ago
Since the scandal involving test data fabrication erupted last week, Toyota's stock price has plummeted over 5% in a week, resulting in a market value loss of over $15 billion. Other automakers like Mazda, Honda, Suzuki, and Yamaha were also implicated in the test data fabrication case, causing a widespread decline in Japanese automotive stocks last week. Fortunately, on June 10th, there was a rebound with Toyota's stock price rising by 1.7%, Honda by 2.4%, Suzuki by 1.2%, and Yamaha by 0.5%, except for Mazda's continued decline by 0.1%. Investigations have been launched by the Japanese Ministry of Land, Infrastructure, Transport, and Tourism into Toyota and other mentioned automakers on suspicion of test data fabrication, specifically in impact tests. Toyota has temporarily halted the shipment and sales of three Japanese-made vehicles, including Corolla Fielder, Corolla Axio, and Yaris Cross, and issued public apologies and admissions of non-compliance with regulations. This scandal and recall follow a series of similar incidents in the Japanese automotive industry over the past year, severely tarnishing Toyota's brand image.
Source: YAHOO