Fiat Chrysler reporting of quarterly and annual results led to investigation of US regulators.
Securities and Exchange Commission (SEC) and Department of Justice (DoJ) undertook investigation. This information was confirmed by the Italian-American car manufacturer.
Both agencies cooperated with Fiat Chrysler fully.
According to the reports of the company it “records revenues based on shipments to dealers” but not direct sales to buyers of their cars.
There are record sales made by Fiat Chrysler since 2014. That year the company controlled Chrysler totally.
In June the monthly sales of Fiat increased by 7%. This result became the best for June since 2005.
Last year 2.2 million cars were bought from this company.
The interest of US regulators increased over the method of reporting revenue based on orders which were made by dealers but not by customers.
Lawsuit of dealer
Fiat Chrysler was accused of racketeering and fraud by dealer in January.
According to the claims of the dealer, Napleton Automobile Group the firm suggested falsely reporting the sales of 40 new cars if the dealers did not say the truth about car sales in a month. They offered the boss of Napleton $20,000.
At the end of the month there would be regular reports from about sales but they will be canceled the next day, according to Napleton.
The company pledged to defend itself because there was no merit in the lawsuit.
There were no comments about the investigations which were launched by the SEC and DoJ.