BMW says being investigated by US SEC

The BMW 3 is on display at the Auto show in Parison on October 2, 2018, 2018. (AP)

German automaker BMW AG said on Monday it was being investigated by the US 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.

Last Update: 21:30 KSA 00:30 - GMT 21:30