The Wall Street Journal reports the U.S. Securities and Exchange Commission is investigating accusations that BMW conspired with American dealers to inflate monthly sales reports.
FCA US and Fiat Chrysler Automobiles will pay $40 million to settle charges leveled by the SEC, which accused the automaker of misleading investors by falsifying monthly sales reports to maintain the appearance of monthly gains.
Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.
Fiat Chrysler has settled a lawsuit brought by seven dealers who leveled charges of antitrust violations and breach of contract in federal court, claiming the factory and competing dealerships conspired to falsify new-vehicle sales reports.
Facebook is building a search engine, while Google continues to pursue its social media push. Both are competing in the dealer space, but not everyone is convinced the two tech giants are really going after each other’s business.
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