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BMW is paying $18 million to settle claims it inflated its car sales - Business Insider

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BMW is paying $18 million to settle claims it inflated its car sales

BMW and two of its subsidiaries agreed to pay a joint penalty of $18 million to the US Securities and Exchange Commission.

This comes after the SEC initially launched an investigation into BMW in December 2019 over concerns it was manipulating its sales figures. Bayerische Motoren Werke AG and two of its subsidiaries have agreed to pay a joint penalty of $18 million to the US Securities and Exchange Commission. BMW was accused of practicing what is known in the US as "sales punching" between 2015 and 2019. The SECthat the company inflated its own reported retail sales figures by having its North American dealers designate cars as sold when they were actually still on the market.

The SEC said BMW resolved the charges without admitting or denying the claims, which is common practice for these sorts of settlements. BMW's penalty was lowered as a result of its cooperation with the SEC.

 

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“BMW was accused of practicing what is known in the US as 'sales punching' between 2015 and 2019” JFC! It went on for that long? 🤡🤡🤡

😂😂😂😂

Inflated car sales? Like the inflated egos of BMW owners?

Never buy a BMW, even if it’s new or certified pre-owned. Lease instead. Warranty expires after four years, and then you’re stuck with an overpriced piece of shit that’ll cost you on average $10k a year to maintain.

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