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Report: SEC investigates BMW's sales practices

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Report: SEC investigates BMW's sales practices

The U.S. SEC is investigating Bayerische Motoren Werke AG's sales reporting practices, The Wall Street Journal reported Dec. 23, citing a person familiar with the matter.

A company spokesman confirmed the investigation to the Journal.

The SEC is reportedly probing whether the carmaker is involved in "sales punching," a technique that boosts sales figures by showing dealers' registered cars as sold when the vehicles are still on car lots.

The German automaker did not immediately respond to S&P Global Market Intelligence's request for comment.

In September, Fiat Chrysler Automobiles NV and FCA US LLC agreed to pay $40 million to settle charges by the SEC, alleging the automaker misled investors with falsified monthly sales reports.