BMW AG and two U.S. subsidiaries agreed Thursday to pay an $18 million U.S. fine to resolve accusations that they disclosed misleading information about the German luxury automaker's retail sales volume in the United States while raising approximately $18 billion...
FILE PHOTO: The BMW logo is seen on a vehicle at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapletonand two U.S. subsidiaries agreed Thursday to pay an $18 million U.S. fine to resolve accusations that they disclosed misleading information about the German luxury automaker's retail sales volume in the United States while raising approximately $18 billion from investors in corporate bond offerings.
It added BMW of North America “maintained a reserve of unreported retail vehicle sales — referred to internally as the ‘bank’ — that it used to meet internal monthly sales targets without regard to when the underlying sales occurred.
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