Fiat Chrysler Faked Sales, Dealers Say in Racketeering Suit
- Trading halted in Europe after shares fall 11 percent
- Dealers paid to report false sales at month's end, suit says
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Fiat Chrysler Automobiles NV investors reacted dramatically to the latest concerns about automotive industry scruples after dealers accused the company’s U.S. unit of offering money to falsify sales.
The U.S. dealers’ allegations add to the claims that are shaking investor confidence in the auto industry, with Volkswagen AG having admitted to rigging emission tests in the U.S. and Renault SA having had its offices raided, raising the specter of a VW-type scandal at the French car company.