{"id":8328,"date":"2016-07-18T15:41:00","date_gmt":"2016-07-18T23:41:00","guid":{"rendered":"http:\/\/associatednews.info\/content\/feds-investigate-fiat-chrysler-over-car-sales\/"},"modified":"2016-07-18T15:41:00","modified_gmt":"2016-07-18T23:41:00","slug":"feds-investigate-fiat-chrysler-over-car-sales","status":"publish","type":"post","link":"https:\/\/associatednews.info\/content\/feds-investigate-fiat-chrysler-over-car-sales\/","title":{"rendered":"Feds Investigate Fiat Chrysler Over Car Sales"},"content":{"rendered":"

By Jason Slotkin<\/a><\/span> <\/p>\n

Federal authorities are investigating Fiat Chrysler over allegations that it encouraged dealers to falsely report the number of cars sold, the automaker confirmed Monday.<\/p>\n

In a statement, the company said it was cooperating with a Securities and Exchange Commission investigation and that the numbers in its financial statements were based on shipments to dealers, not on sales to customers.<\/p>\n

Fiat Chrysler also added it had fielded questions from the Justice Department on a similar matter. The Wall Street Journal<\/a> reports that FBI agents visited the homes of Fiat regional managers “allegedly involved in the potential misconduct.”<\/p>\n

Furthermore, the Journal<\/em> reports, the investigation seems centered on allegations made in a lawsuit filed by an Illinois car dealer in January alleging that Fiat Chrysler had “manipulated” new-vehicle sales:<\/p>\n

\n
\n

“The dealer, Napleton Automotive Group, accused Fiat Chrysler of financially rewarding stores that manipulated sales reports, inflating the company’s overall U.S. sales results. Napleton operates dealerships in Illinois and Florida.<\/p>\n

“The lawyer for Napleton, Steve Berman, said the people the FBI interviewed are those implicated by the lawsuit.”<\/p>\n<\/div>\n<\/blockquote>\n

The Associated Press reports the company has had an exceptional record since leaving bankruptcy protection in 2009 with 75 straight months of year-over-year sales increases. And as NPR’s Sonari Glinton adds for our Newscast unit, car sales are a crucial measure for determining an auto manufacturer’s operation:<\/p>\n

\n
\n

“Every month the car companies report on their sales. The numbers are important for almost everything. They affect the stock price, government regulations, union issues.”<\/p>\n<\/div>\n<\/blockquote>\n

Let’s block ads!<\/a><\/strong> (Why?)<\/a><\/p>\n

Source:: http:\/\/www.npr.org\/sections\/thetwo-way\/2016\/07\/18\/486534373\/feds-investigate-fiat-chrysler-over-car-sales?utm_medium=RSS&utm_campaign=business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Federal authorities are investigating Fiat Chrysler over allegations that it encouraged dealers to falsely report the number of cars sold, the automaker confirmed Monday.<\/p>\n

In a statement, the company said it was cooperating with a Securities and Exchange Commission investigation and that the numbers in its financial statements were based on shipments to dealers, not on sales to customers.<\/p>\n

Fiat Chrysler also added it had fielded questions from the Justice Department on a similar matter. The Wall Street Journal<\/a> reports that FBI agents visited the homes of Fiat regional managers “allegedly involved in the potential misconduct.”<\/p>\n

Furthermore, the Journal<\/em> reports, the investigation seems centered on allegations made in a lawsuit filed by an Illinois car dealer in January alleging that Fiat Chrysler had “manipulated” new-vehicle sales:<\/p>\n

\n
\n

“The dealer, Napleton Automotive Group, accused Fiat Chrysler of financially rewarding stores that manipulated sales reports, inflating the company’s overall U.S. sales results. Napleton operates dealerships in Illinois and Florida.<\/p>\n

“The lawyer for Napleton, Steve Berman, said the people the FBI interviewed are those implicated by the lawsuit.”<\/p>\n<\/div>\n<\/blockquote>\n

The Associated Press reports the company has had an exceptional record since leaving bankruptcy protection in 2009 with 75 straight months of year-over-year sales increases. And as NPR’s Sonari Glinton adds for our Newscast unit, car sales are a crucial measure for determining an auto manufacturer’s operation:<\/p>\n

\n
\n

“Every month the car companies report on their sales. The numbers are important for almost everything. They affect the stock price, government regulations, union issues.”<\/p>\n<\/div>\n<\/blockquote>\n

Let’s block ads!<\/a><\/strong> (Why?)<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-8328","post","type-post","status-publish","format-standard","hentry","category-business-2"],"_links":{"self":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/posts\/8328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/comments?post=8328"}],"version-history":[{"count":0,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/posts\/8328\/revisions"}],"wp:attachment":[{"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/media?parent=8328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/categories?post=8328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/associatednews.info\/content\/wp-json\/wp\/v2\/tags?post=8328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}