Following bombshell allegations earlier this year, a new report by the Transportation Ministry of Japan found that Toyota falsified data to certify select vehicles. The news caused the carmaker’s stock valuation to plummet by $15 billion in one week.
Toyota dipped an estimated 5.3% following the June 3 report, resulting in a loss of 2.45 trillion Japanese yen, equivalent to just over $15 billion.
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The inspection and subsequent report led Toyota to immediately halt shipments of three vehicles (Corolla Fielder, Corolla Axio, and Yaris Cross). Four other models have been discontinued since the data was found to be incorrect.
The falsified tests
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