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

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.

“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.

Earn $3,000 working from home without sending money to anyone through forex trading Type INFO or INBOX ME

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside the last workshop making traditional Portuguese cowbells by hand - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside recent sports media and gambling deals: expert analysis - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

A look inside the Grace Hopper Celebration for women in tech - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If you want to take your website to the first page of Google , SEO backlinks that help increase traffic, increase website ranking contact now
Source: BusinessInsider - 🏆 729. / 51 Read more »

Look inside a 130-year-old church in Vermont transformed into a modern, 5-bedroom home - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »