Difficult day for the Stock Exchange title fca, which in mid-morning slipped by 4,1%, to 5,945 euros, marking itself as the worst stock of the Ftse Mib. The sell-off on the car group's shares was triggered by news of an ongoing investigation in the United States.
According to Automotive News, FBI and SEC investigators are leading a survey on the methods of communication of Fiat Chrysler Automobiles sales data in the USA.
“We are collaborating with the American authorities – FCA replied in a note -. In its annual and quarterly financial reports, the company reports revenues based on its shipments to dealers and customers and not on the basis of units reported as sold to end customers by dealers.
The note also adds that "requests regarding similar matters have recently been formulated by the US Department of Justice" and that "FCA will fully cooperate with these investigations".
Yesterday the Fiat Chrysler stock had gained 1,9%, in the wake of ICBPI's decision to confirm its positive view on the stock (buy, Tp 11,3 euros), waiting for the second quarter results which should see a clear improvement in adjusted profit.
