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| Name | Scandal of fraud by Japanese car anufacturers exposed |
| Video Uploader | Video From New Energy Vehicle Industry Chain Trends |
| Upload Date | This Video Uploaded At 05-06-2024 12:00:03 |
| Video Discription | #ChineseCar #NewEnergy #electricvehicles Japan's well-known automaker Toyota has been under official investigation for multiple instances of fraud. When the authorities stepped in, they uncovered a significant scandal in Japan's auto industry. Last Monday, the Ministry of Transportation revealed that Toyota submitted incorrect data in pedestrian safety tests for three current models (Corolla Fielder, Corolla Axio, and Yaris Cross) and used modified test vehicles in crash safety tests for four older models. Besides Toyota, Mazda, Yamaha, Honda, and Suzuki were also found to have violations in their certification applications. This incident not only affected the stock prices of the involved companies but also deepened the global market's trust crisis in Japan's auto industry. However, despite the frequent scandals, the global market performance of Japanese cars may not be significantly impacted, especially in resource-limited countries and regions where they still have strong influence. Is this true? Dear viewers! Welcome back to our channel! We are delighted to engage with our audience and discuss today's topic: What major violations did the Ministry of Transportation discover during their investigation? How did this scandal affect the stock prices and market trust of Japan's major automakers? Why, despite the frequent fraud scandals in Japan's auto industry, is the global market's impact on their sales limited? What exactly is going on? The following exciting video will provide a detailed report in four parts. Part 1: Uncovering the root of the problem Last December, an internal investigation by Toyota's subsidiary Daihatsu revealed a disturbing fact: most vehicles had not undergone proper crash safety tests. This discovery attracted widespread attention. Soon after, in January this year, Toyota was exposed for a more serious violation — falsifying engine power output data, leading to an emergency halt on all engine shipments. Following a series of quality scandals at the Toyota Group, the Ministry of Transportation took decisive action, instructing 85 domestic automakers and parts suppliers to conduct comprehensive reviews to verify whether they had obtained certifications through legal means. This extensive investigation quickly uncovered a series of problems, exposing significant loopholes in the quality and safety certification processes in the automotive industry. These events not only dealt a huge blow to Toyota Group's reputation but also prompted a deep reflection on the quality control systems across the entire automotive industry. Faced with such challenges, Toyota Group and its subsidiaries must take effective measures to fundamentally improve their quality control processes, rebuild consumer confidence, and urge regulatory authorities to enhance oversight to ensure fair competition and consumer protection within the industry. The Ministry of Transportation discovered certification issues with 32 vehicles, requiring five manufacturers to suspend shipments. Toyota halted shipments and sales of three models, while Yamaha stopped the shipment of sports motorcycles. Toyota is investigating fuel efficiency and emissions issues, expected to complete by the end of June. [2YaSLz2drpo] |
| Category | Science & Technology |
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