Tradewinds Global Investors managing director, Peter Boardman, told CNBC's "Street Signs" that Mitsubishi Motors would likely have to rely on the group again for financial support.
"The company's been coming out of significant financial distress over the past couple of years," he said. "They thought they had a strategy for trying to improve themselves by being a supplier of engines and transmissions to Nissan and other players but obviously with this incident it's going to make it much more difficult," he said.
Boardman noted that Mitsubishi would have to reimburse Nissan and other companies it supplied, and that the misdeeds were likely to cost the carmaker 30 billion to 40 billion yen ($270 million to $360 million). Rivals Suzuki and Daihatsu would get a boost from the Mitsubishi's sales halt, he added.
But fallout from the automaker's cheating admission was likely to be relatively limited, as most of its car sales were in Japan, John Humphrey, senior vice president and general manager at J.D. Power and Associates's global automotive practice.
Even though the admission of cheating was a black mark on Mitsubishi's report card, it was not safety issue as the company had faced in the early 2000s, Humphrey told CNBC's "Squawk Box".