Shares of Toyota, the largest Japanese carmaker, dropped more than 5.4% last week after it was discovered by Japan’s Transport Ministry on June 3 that false data was used to certify certain vehicle models. The overall loss totaled $15.62 billion, though the share prices were recovering on Monday.
The ministry’s inspection also found discrepancies in certification applications by Honda, Suzuki and Yamaha. Shares of Mazda, Japan’s second-biggest carmaker, also fell 7.7% last week.
All five companies were found to have submitted false test data. However, Toyota and Mazda falsified the cars used for crash tests. The day of the discovery, Toyota announced that it will temporarily stop shipments of three car models: Corolla Fielder, Corolla Axio and Yaris Cross. Mazda also said that it stopped shipments of the Roadster RF and Mazda 2.
Both companies said it was still safe to drive all of these models of those cars.
