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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?
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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.
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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.
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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.
Read More →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.
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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.
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Chrysler Group LLC amended its initial public offering to more clearly detail its value to its majority owner, Fiat, Bloomberg reports.
Read More →Dr. Herbert Kohler, Tesla’s director since 2009, resigned from his post, effective Dec. 12. Former Daimler AG exec named replacement.
Read More →DriveTime terminated its definitive agreement with Santander and other third-party investors “due to certain unsatisfied conditions.”
Read More →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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