BMW is the latest manufacturer to be accused of falsifying new vehicle sales reports, a practice that has led to lawsuits and investigations. Are dealers conspirators or victims?
The Wall Street Journal reports the U.S. Securities and Exchange Commission is investigating accusations that BMW conspired with American dealers to inflate monthly sales reports.
FCA US and Fiat Chrysler Automobiles will pay $40 million to settle charges leveled by the SEC, which accused the automaker of misleading investors by falsifying monthly sales reports to maintain the appearance of monthly gains.
Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.
Fiat Chrysler has settled a lawsuit brought by seven dealers who leveled charges of antitrust violations and breach of contract in federal court, claiming the factory and competing dealerships conspired to falsify new-vehicle sales reports.
For all its missteps, Tesla Inc. finally found its footing in 2018, eking out a 1.2% market share and renewing concerns shared by established manufacturers and brick-and-mortar dealers.
Chrysler Group LLC amended its initial public offering to more clearly detail its value to its majority owner, Fiat, Bloomberg reports.
Dr. Herbert Kohler, Tesla’s director since 2009, resigned from his post, effective Dec. 12. Former Daimler AG exec named replacement.
DriveTime terminated its definitive agreement with Santander and other third-party investors “due to certain unsatisfied conditions.”
Tesla is faced with lawsuits from dealer associations in the states of New York and Massachusetts, and the NADA shares why Tesla’s model doesn’t work.
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