Fiat Chrysler recalls about 410K vehicles for wiring trouble
Fiat Chrysler spokeswoman Shawn Morgan said the new method will offer "more transparency" and foster "more discipline" in sales reporting, particularly in the area of fleet sales. The company's sales results have recently indicated the company is closing in on Toyota Motor Corp.'s No. 3 sales position in the USA, further boosting investor confidence in its recovery from the 2009 bankruptcy filing by Chrysler.
The probes, including a criminal investigation, stem from claims by some dealers that they were forced by Fiat Chrysler officials to falsify sales reports.
FCA issued a table that shows its USA monthly auto sales since 2011 using the new methodology and what is reported earlier.
Victory for Corbyn as Labour's NEC puts him on the ballot
Richard Burgon , MP, told the BBC that Labour took a 7% nosedive on the polls because of the attempted coup against Corbyn . The ballot is scheduled to close on Wednesday September 21 and the new leader will be announced on Saturday September 24 .
The company is changing the way it records monthly sales. The civil lawsuit particularly alleges that FCA employees paid bribes to dealers to manipulate sales reports to customers in order to inflate sales numbers.
Fiat Chrysler has said the dealers' suits are without merit. Most companies report sales on a monthly basis, with Tesla Motors Inc TSLA.O being a notable exception.
It added that reporting in the United States is different than other markets because companies are left to their own devices to estimate sales.
Turkish lira rallies, stocks battered in wake of coup
Emerging equity markets overall traded flat, thanks to gains in Russian and eastern European stocks . Sterling rose almost 2 percent last week for its best week against the greenback since early March.
If rumors about the audit are accurate, it could signal big problems for FCA, which is now being investigated by the Justice Department and the Securities and Exchange Commission over its sales reporting practices. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
Shares of Fiat Chrysler (FCAU) are rising 1.24% to $6.97 in afternoon trading today as the automaker announced it is investing $1.5 billion in a Detroit truck plant to retool it to produce trucks and SUVs instead of midsize cars. It replaces production of the Chrysler 200 sedan at that plant.
Germany's Bayer increases offer for seed company Monsanto
Buying Monsanto would also give Bayer a controversial pioneer of crop biotechnology that is reviled in Europe. Bayer also offered a $1.5 billion reverse-breakup fee should a deal be blocked on antitrust grounds.
