Fiat Chrysler Automobiles shares dived by over 10% in Milan on Thursday following reports which accused the giant car maker of inflating its U.S. sales figure. Meanwhile, French car maker Renault shares also plunged, falling by over 20% after police raids on several of its factories in connection with a probe into an alleged emission scandal.
Fiat accused of conspiring to inflate U.S. sales
In a lawsuit filed Tuesday by two dealerships in the Napleton Automotive Group, it was alleged that FCA conspired to inflate the auto giant’s monthly U.S. sales. In their lawsuit, Napleton Arlington Heights CDJR and Napleton Northlake CDJR alleged that FCA has been in practice of providing performance-driven incentives to dealers. According to the lawsuit, in one of...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
