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Good morning. Today is Monday, June 10th. I'm Julie Morgan.

Japan says five automakers fall. June 10th, I'm Julie Morgan.

Japan says five automakers falsified data.

An updated Tesla Model Y is not happening this year.

And an activist investor has taken a special interest in Southwest Airlines.

Five Japanese automakers have been accused of falsifying vehicle safety test data

when applying to certify certain models.

The scandal is reminiscent of Volkswagen's 2015 Diesel Gate that involved cheating U.S. emissions

tests.

Japan's Ministry of Land Infrastructure, Transport, and Tourism last week found that Toyota,

Honda, Mazda, Suzuki, and Yamaha were involved in fraudulent activities in the certification process of certain models.

The findings dragged the automakers Japan listed shares last week, with Mazda down 7.7% and Honda down 5.8% Toyota down 5.4%

Yamaha down 2.2% and Suzuki down 0.3%. The stocks recovered just a bit on Monday, Mazda up 2.5%.

The investigation was conducted after Toyota's Di-Hatsu unit halted all shipments last year after a third-party investigation found that its models were not tested properly for collision safety.

The five companies were directed to

suspend shipments of the models involved till the Transport Ministry confirmed

their compliance. On-site inspections will also be conducted.

It is important to note that the 2015 diesel gate was a much greater scandal

as Volkswagen fitted diesel engines with software that could cheat on US emissions tests.

It led to over $30 billion in fines around the world.

If you're looking for a Tesla Model Y refresh this year, it's not happening.

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