BMW Pays $18 Million Fine For Lying About Leading US Sales Race For YEARS

BMW Pays $18 Million Fine For Lying About Leading US Sales Race For YEARS
BMW and two U.S. subsidiaries agreed Thursday to pay an $18 million fine to resolve accusations that they disclosed misleading information about the German luxury automaker's retail sales volume in the United States while raising approximately $18 billion from investors in corporate bond offerings.

The U.S. Securities and Exchange Commission said from 2015 to 2019, BMW inflated reported U.S. retail sales, which helped BMW close the gap between actual retail sales volume and internal targets and "publicly maintain a leading retail sales position relative to other premium automotive companies."


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Car4life1Car4life1 - 9/25/2020 12:57:12 PM
+4 Boost
The desperation of it all...in the end, Benz always Wins

Unfortunately for Bimmer every stellar month in the future will be side eyed and questioned


dumpstydumpsty - 9/27/2020 2:56:50 PM
+1 Boost
point is. all these major corporations are in way desperate to maintain descent-looking sales/business on a year-to-year basis. today's "basic" stockholders are too fickle & will dump/de-value stock on the most minor of corporate information. it's what makes the stock market generally a silly joke on "Main St".

If one company was caught lying, then chances are their direct competitors were lying (to some degree) as well. The others have just done it in different ways as not be immediately noticeable. But the insider managers know.

And not that the rental car companies are getting hammered due to COVID19-related changes to customer business, it's harder to hide those sales figures in the minutia of the semantics of what constitutes a customer sale.


Carmaker1Carmaker1 - 9/28/2020 10:13:53 AM
+1 Boost
Lexus won the U.S. sales race in 2015 it seems and not BMW. MB only won last year and not BMW as claimed, otherwise sales positions are still accurate (even if numbers are off).


cidflekkencidflekken - 9/28/2020 11:35:10 AM
+1 Boost
Incorrect.

2015
Lexus 344K
BMW 346K
Benz 343K

2016
Lexus 331K
BMW 313K
Benz 340K

2017
Lexus 305K
BMW 305K
Benz 315K

2018
Lexus 298K
BMW 311K
Benz 315K

2019
Lexus 298K
BMW 324K
Benz 316K


Agent009Agent009 - 9/25/2020 2:18:30 PM
+1 Boost
In retrospect we had talked often about some automakers always waited to be last reporting sales. Now we know why


ctsangctsang - 9/25/2020 2:26:01 PM
+1 Boost
not surprised by german automakers


Agent009Agent009 - 9/25/2020 4:18:58 PM
-1 Boost
Nissan did the same a few years back


Carmaker1Carmaker1 - 9/28/2020 10:27:40 AM
+1 Boost
As usual you're full of it 9 and bear no ounce of credibility. Nissan most certainly did not ever do such a thing, BMW USA did. Put up or shut up. No research leads me to it, especially as a former shareholder.

This had nothing to do with Nissan, highlighting again that you clearly you struggle to stay on topic and have a bigoted bias against Asian brands. I own primarily German, British, and American, yet can be objective unlike you.

Perhaps you should've left here instead of Agent00R? Much better writer than you by 10x.


malba2367malba2367 - 9/25/2020 6:19:51 PM
+4 Boost
They are still punching vehicles like crazy. The BMW dealer by my house (probably also the closest one the BMW's us offices) always has tons of "used" cars with a couple hundred miles on them for sale.


Yonder7Yonder7 - 9/25/2020 6:37:06 PM
+2 Boost
Lol... I didn't expect that...


Yonder7Yonder7 - 9/25/2020 6:39:35 PM
+3 Boost
Well that trend will continue as long as they build plastic engines that fall apart one or 2 years after you buy it.


ricks0mericks0me - 9/25/2020 7:56:58 PM
+1 Boost
Audi sales were going up every month forever. Will they be next?


MDarringerMDarringer - 9/25/2020 8:42:19 PM
0 Boost
Audi used two deceptive business practices.

Audi reported "pending" sales as sales. So a dealer would report a pending sales number and then back them out after the date.

Audi would also sell to brokers who would then ship the cars to Mexico, so you filter cars destined to Mexico as sales in the USA first.

Maserati did the pending sale and the back out for a while and got caught.


qwertyfla1qwertyfla1 - 9/26/2020 9:59:10 AM
+3 Boost
The Germans lying and cheating -shocking!


1lostVW1lostVW - 9/26/2020 4:23:39 PM
+3 Boost
Disgusting to let a huge company like BMW AG off the proverbial hook for only $18 million when the punch scheme was going on to help support a nearly $20 billion bond placement. Chump change in the scope of a global automotive brand, so cheating really dose pay.


MDarringerMDarringer - 9/26/2020 5:57:50 PM
-1 Boost
It was a calculated risk that paid off.


Carmaker1Carmaker1 - 9/28/2020 10:19:21 AM
+1 Boost
It looks both Lexus (2015) and Mercedes-Benz (2019) won the sales race in USA, while BMW lied. Quite disappointing to hear, as an avid BMW owner. Wonder if that displaced anyone from 2nd place as well?


Carmaker1Carmaker1 - 9/28/2020 10:28:38 AM
+1 Boost
looks *like*


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