The Securities and Exchange Commission investigation of Fiat Chrysler Automobiles N.V. will ultimately show that FCA has done nothing wrong, FCA chief executive officer Sergio Marchionne said today.
The SEC is investigating whether FCA deliberately misstated its sales results during the past five years. Dealers have sued FCA over the sales reporting practices, including a Chicago area dealer claiming it amounted to fraud.
FCA restated its sales totals for the five years and conceded its long string of monthly sales increases actually ended in 2013. (more…)