Fiat Chrysler Automobiles is being investigated by the Federal Bureau of Investigation (FBI) and Securities and Exchange Commission (SEC) in the US, after doubts have been cast over the car maker’s US sales reporting practises.
FBI and SEC investigators raided the homes of current and former FCA staff, while legal representatives also visited FCA’s Michigan headquarters on 11 July.
None of the involved parties has revealed what documents are being examined, but reports on Automotive News suggest the methods the car maker has used to generate its record-breaking sales results are being investigated.
In its latest sales report, FCA announced that US sales, which are headed by its Ram and Jeep brands, have grown by 6.5% in 2016 following 75 consecutive months of sales gains - the longest ever period of growth for a US manufacturer.
FCA revealed that its sales results included retail and fleet sales, as well as limited deliveries of vehicles to its officers, directors, employees and retirees. It said in an updated disclaimer: “Sales from dealers to customers are reported to FCA US by dealers as sales are made on an ongoing basis through a new vehicle delivery reporting system that then compiles the reported data as of the end of each month.
Sales through dealers do not necessarily correspond to reported revenues, which are based on the sale and delivery of vehicles to the dealers. In certain limited circumstances where sales are made directly by FCA US, such sales are reported through its management reporting system.”
In its latest statement, FCA claims that it is “cooperating with an SEC investigation into the reporting of vehicle unit sales to end customers in the US”.
It added that inquiries into similar issues have also been made by the US Department of Justice, and said: “FCA will co-operate fully with these investigations”.
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