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BMW says being investigated by U.S. SEC

Reuters
LA Auto Show in Los Angeles

(Reuters) - German automaker BMW AG <BMWG.DE> 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. (https://on.wsj.com/35RCLyZ)

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)