German automaker BMW AG said on Monday it was being investigated by the U.S. Securities and Exchange Commission following a report of a probe related to the company’s sales practices.
“We can confirm that we’ve been contacted by the SEC and are cooperating fully with the investigation,” a BMW spokesman said, but declined to comment further.
The Wall Street Journal earlier reported, citing a source, that the SEC was probing BMW’s sales practices.
The SEC declined to comment.
Reporting by Tina Bellon in New York, Akshay Balan in Bengaluru and Katanga Johnson in Washington; Editing by Shounak Dasgupta