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BMW gets another 'wrist slap' from US SEC
Posted by: MrNoBody
Date: September 27, 2020 08:34PM
BMW Fined $18 Million for Inflating Monthly US Sales Figures
9/24/20-
DETROIT (AP) BMW will pay an $18 million fine to settle allegations that it inflated its
monthly U.S. sales numbers for five straight years.
The Securities and Exchange Commission said Thursday that the German luxury
automaker kept a reserve of unreported sales that it drew on to meet monthly
targets from 2015 to 2019.


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Re: BMW gets another 'wrist slap' from US SEC
Posted by: S. Pupp
Date: September 27, 2020 09:10PM
Will those wacky German auto manufacturers never learn?
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Re: BMW gets another 'wrist slap' from US SEC
Posted by: Filliam H. Muffman
Date: September 27, 2020 09:51PM
... eh, better not.

BMW is the second automaker in recent years to face penalties for inflating sales figures. Last year Fiat Chrysler agreed to pay $40 million to settle an SEC complaint alleging that the company misled investors by overstating its monthly numbers over a five-year period.



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Re: BMW gets another 'wrist slap' from US SEC
Posted by: RAMd®d
Date: September 29, 2020 11:43AM
Besides being unethical, and apparently illegal, what's the problem with inflating the numbers?

Is it related to emissions standards and compliance?

If so, I know why.

If not, I only thought I knew.






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Re: BMW gets another 'wrist slap' from US SEC
Posted by: MrNoBody
Date: September 29, 2020 12:57PM
...what's the problem with inflating the numbers ?

Deceiving investors, manipulating stock markets, maintaining inflated product
prices by creating fraudulent demand, etc.

The bigger issue is companies like BMW & GM financing sales to unqualified buyers
to boost their market share. Those loans get bundled and resold. 'Recovered'
vehicles then go back on the market, usually as "Certified Pre-Owned" etc.
Auto Loan Bubble



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