According to the latest report coming off the mill, with SEC already investigating what appear to be irregularities, sources within the company actually paint a bleaker picture – of false company sales figures.
It appears the brands making up the Fiat Chrysler Automobiles group have been reporting higher than real sales figures by thousands of units. Back in 2015 an internal investigation discovered the shenanigans – up to five or six thousand cars were reported as delivered though there was no buyer for them. According to the unnamed sources, cited by US media, FCA’s chief of sales, Reid Bigland, has already axed the malpractice. It’s still unknown for how long the false data has been reported, but it appears the sales were increased artificially due to high pressure from the top of the company to keep FCA’s 75-month streak of year-on-year sales surges.
For now, it’s also unknown from where down the chain of command come the inflated sales figures, but it’s already being reported that investigators from the Securities and Exchange Commission and the Department of Justice have been visiting FCA’s nine regional business centers, interviewing both former and current employees. According to FCA, the company has been asked to cooperate “with an SEC investigation into the reporting of vehicle unit sales to end customers in the U.S.”