Government investigators of Japan's transport ministry arrive at the office of Mitsubishi Motors Corp., in Okazaki, central Japan, Thursday, April 21, 2016. (Takuro Yabe/Kyodo News via AP)
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Mitsubishi Motors shares nosedived again Thursday as panic selling wiped about $2.5 billion off the automaker's market value in response to its shock admission that it cheated on fuel-efficiency tests.Mitsubishi admitted Wednesday that unnamed employees rigged tests to make some of its cars seem more fuel-efficient than they were in reality.The collapse of Mitsubishi's stock on Wednesday was its biggest one-day plunge since 2004 .Bailouts by the Mitsubishi group companies saved the automaker, which had covered up defects linked to flawed axles that could lead to wheels coming off the car.Japan's number-two automaker said it would halt sales of the affected mini-cars, but added that it had no immediate plans to change its business relationship with Mitsubishi.Mitsubishi sold more than a million vehicles at home and overseas in its latest fiscal year.
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