BMW Investigated By SEC Over U.S. Sales Reporting Practices
- Carmaker is in a tight race with Mercedes for luxury lead
- Dealers have complained for years about service-loaner tactics
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BMW AG is being scrutinized by the U.S. Securities and Exchange Commission over its sales reporting practices, months after the regulator extracted a penalty from Fiat Chrysler Automobiles NV over similar issues.
The German automaker has been contacted by the SEC and will cooperate fully with its investigation, Phil DiIanni, a spokesman, said by phone. The agency doesn’t comment on the existence of any probes, SEC spokesman Kevin Callahan said.