Fiat chief re­jects claims of US sales data fraud

The Myanmar Times - - International Business -

AL­LE­GA­TIONS that Fiat Chrysler Au­to­mo­biles (FCA) fal­si­fied US sales data are mer­it­less and the com­pany’s fi­nan­cial re­ports are “to­tally ac­cu­rate”, chief ex­ec­u­tive Ser­gio Mar­chionne said.

Mr Mar­chionne said the FCA is co­op­er­at­ing with au­thor­i­ties from the Se­cu­ri­ties and Ex­change Com­mis­sion and the Jus­tice De­part­ment prob­ing the com­pany’s re­port­ing af­ter it was forced to re­state unit sales for the past five years last month, re­vis­ing the way it counted ve­hi­cle turnover.

The move came af­ter a dealer group sued the com­pany over its sales re­port­ing prac­tices, which one said amounted to fraud.

The SEC is in­ves­ti­gat­ing whether FCA de­lib­er­ately mis­stated the sales num­bers, but Mr Mar­chionne in­sisted there was no in­tent what­so­ever to de­ceive.

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