On Monday, German automaker BMW AG stated it is being probed by the U.S. Securities and Exchange Commission.
The development comes in the wake of 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,” said BMW’s spokesman while declining to comment further.
The Wall Street Journal had earlier reported, citing a source, that the SEC was investigating BMW’s sales practices.
The SEC declined to comment.