In the US investigating the artificial overestimation of BMW car sales

In the US investigating the artificial overestimation of BMW car sales

December 24, 2019 0 By autotimesnews

The media spoke about the start of an investigation against the Bavarian automaker, which is suspected by the US Securities and Exchange Commission (SEC) in artificially overestimating auto sales to improve reporting.

The media, citing a company representative, reported that the US Securities and Exchange Commission launched an investigation into the local BMW office. It is planned to find out whether the BMW brand could artificially overestimate data on sales of cars in the country.

    “We can confirm that the SEC has contacted us and is fully cooperating with the investigation,” said a BMW spokesman, but declined to comment further.

So, dealers are suspected of registering virtually unsold cars. Bloomberg notes that the BMW brand is competing in the US market in the premium car segment with Daimler.

At the same time, the European Commission is also conducting its own investigation against BMW. She is suspected of a cartel conspiracy with Volkswagen and Daimler, as well as a violation of antitrust laws.

Recall that Fiat Chrysler previously agreed to pay a fine of $ 40 million, which is associated with a violation in the preparation of sales reports that the SEC considers fraudulent. According to the agency, the Italian-American automaker misled investors by mistakenly announcing an annual series of monthly profits and inflated results by paying dealers for a report on fake sales.