FCA Facing Federal Probe Into Sales Reporting Practices

The Securities and Exchange Commission in the U.S. has announced an investigation into the sales reporting practices of Fiat Chrysler Automobiles.

In the U.S., FCA has reported 75 straight months of increased sales with further bold plans and on the back of investigations, members of the FBI and SEC probed the company’s offices and the homes of key staff.

With investigators not revealing any specifics, FCA released a statement saying that they will “cooperate fully” with them as they look into their “reporting of vehicle unit sales to end customers.”

Earlier in the year, a dealership group from Illinois suggested that FCA paid dealers to incorrectly inflate sales according to AutoNews. A federal civil lawsuit was launched and in April, FCA began adding an extensive disclaimer in its monthly U.S. sales reports, specifying all the sales which it reports and how figures are calculated.

It isn’t known if the federal investigation was prompted by this but results from the investigation should be announced in the coming months.

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