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General FIAT shares suspended in Italy? Racketeering?

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General FIAT shares suspended in Italy? Racketeering?

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ahmett

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Hi Guys, don't know if this is true but the fact is that the shares are suspended.
If what they are alleging is true in the US, then FIAT is in BIG BIG TROUBLE.

That is defrauding investors no more no less by lying about sales, FCA is a public company!
I know Fiat's customer service is bad, but if they cease to exist as a company then no service at all! Of course, I am getting ahead of myself but still that's major news.

http://www.bloomberg.com/news/artic...unit-accused-of-racketeering-to-falsify-sales
 
Kelley Enright, an FCA spokeswoman, didn’t immediately reply to a phone message seeking comment on the lawsuit.
Click to expand...
Standard.

Not a good day to have shares in EU automotive manufacturers, given the police raid on Renault.

ETA: I thought this was why manufacturers linked bonuses to registration targets (hence the availability of "pre-reg" cars), to avoid this sort of thing?
 
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Well I'm stunned at such "news". Who'd of thought manufacturers offered incentives to dealers to meet monthly / quarterly targets. And who'd of thought some dealerships would cook the books. I never thought such people existed in business.

Oh and of course a few individuals / institutions will have got very rich in a matter of minutes by trading shares on such stuff.

Renault could be the tip of the VW iceberg. I can't believe a manufacturer such as VW (who have vast development budgets and lots of diesel knowledge) are the only ones who can't achieve emission targets.
 
zanes said:
Standard.

Not a good day to have shares in EU automotive manufacturers, given the police raid on Renault.

ETA: I thought this was why manufacturers linked bonuses to registration targets (hence the availability of "pre-reg" cars), to avoid this sort of thing?
Click to expand...

It's the US business unit that is accused according to the web. Their registration processes are different. IIRC in many states the plate stays with the owner not the car.
 
RussH said:
Well I'm stunned at such "news". Who'd of thought manufacturers offered incentives to dealers to meet monthly / quarterly targets. And who'd of thought some dealerships would cook the books. I never thought such people existed in business.

Oh and of course a few individuals / institutions will have got very rich in a matter of minutes by trading shares on such stuff.

Renault could be the tip of the VW iceberg. I can't believe a manufacturer such as VW (who have vast development budgets and lots of diesel knowledge) are the only ones who can't achieve emission targets.
Click to expand...
the problem is the dealer was allegedly paid by fiat to cook the books!
 
RussH said:
Renault could be the tip of the VW iceberg. I can't believe a manufacturer such as VW (who have vast development budgets and lots of diesel knowledge) are the only ones who can't achieve emission targets.
Click to expand...

ADAC tested several diesels from various makes including Opel and Fiat, that didn't meet required NOX levels.

However, it seems these cars are only guilty of 'cycle beating' not outright cheating. We shall see as more details come to light.
 
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