Fiat Chrysler Internal Report Indicates Sales Figures Were Inflated

Posted by at 1:01 pm on July 28, 2016

fiat-chrysler-automobiles_416x416Fiat Chrysler Automobiles discovered its sales were overstated by several thousand vehicles when it conducted an internal review last year, trade publication Automotive News reported on Monday, citing two unnamed sources at the automaker.

The report comes one week after FCA confirmed that it is under investigation by the U.S. Securities and Exchange Commission and has received inquires from the U.S. Department of Justice for the way it reports sales.

The review revealed that 5,000 to 6,000 vehicles had been reported as sold by dealers and then “unwound.” The automaker put a stop to the practice after it was discovered, Automotive News reported. A spokeswoman for FCA declined to comment on the report.

FCA’s successful track record of 75 consecutive months of year-over-year sales gains have been the subject of tremendous debate and speculation over the year. The automaker has achieved sales and market share gains largely through the success of its Jeep and Ram brands and also has relied more on subprime lending than other automakers, according to analysts.

FCA’s six-year-plus sales streak has coincided with an industry rebound that has occurred over approximately the same period.

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