Swedish auto maker Volvo has uncovered widespread cheating by its car dealers in China, where retailers inflated sales to win cash rebates from the company for hitting volume targets. An investigation by the struggling, Chinese-owned car maker uncovered thousands of fake sales booked in 2011 -- but also an under-reporting of sales in 2012 to make the books balance. That meant it actually performed better last year than it had thought, according to a senior Volvo executive.
The executive asked for anonymity because of the sensitivity surrounding the findings of the recent investigation.
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