⁍ SEC said from 2015 to 2019, BMW inflated reported U.S. retail sales.

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⁍ It helped BMW close the gap between actual retail sales volume and internal targets.

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⁍ In September 2019, Fiat Chrysler Automobiles NV and its U.S. unit agreed to pay $40 million for misleading investors about its monthly sales figures.

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– “There is no allegation or finding in the Order that any BMW entity engaged in intentional misconduct,” BMW said in a statement, adding it “attaches great importance to the correctness of its sales figures and will continue to focus on thorough and consistent sales reporting.” The SEC said Thursday that the German automaker misled investors about its US retail sales volume while raising $18 billion from investors in corporate bond offerings, Reuters reports. The SEC said from 2015 to 2019, BMW inflated reported US retail sales, which helped BMW close the gap between actual retail sales volume and internal targets and “publicly maintain a leading retail sales position relative to other premium automotive companies.” It said BMW of North America “maintained a reserve of unreported retail vehicle sales—referred to internally as the ‘bank’—that it used to meet internal monthly sales targets without regard to when the underlying sales occurred.’ The SEC probe started in late 2019, BMW said.