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The Federal Trade Commission announced a new rule Tuesday that is intended to stop auto dealers from using hidden fees and bait and switch price tactics on buyers. FTC reveals new rule targeting ...
The FTC originally proposed what became the CARS Rule in June 2022. In July 2023, a group of 17 Democratic U.S. lawmakers issued a statement asking the FTC to finalize those rules.
The FTC claims these rules would have saved American consumers $3.4 billion and up to 72 million hours of annual car shopping time. These rules didn't come without precedent.
In the United States, direct manufacturer auto sales are prohibited in many states by franchise laws requiring that new cars be sold only by independent dealers. Tesla maintains that, to properly explain to their customers the advantages their cars have over "traditional" vehicles with an internal combustion engine, they cannot rely on third ...
In a letter requested by John Dingell, ranking member of the House Energy and Commerce committee, the FTC noted of 6,786 complaints relating to auto parts and repairs it had received between January 1, 1996, and May 16, 2006, only two complaints were relevant and there were "none relating to the inability of consumers or independent auto repair ...
Typical car dealership (in this case a Jeep dealer) in the U.S. selling used cars outside, new cars in the showroom, as well as a vehicle entrance to the parts and service area in the back of the building An aerial view of auto dealer's service in Kuopio, Finland Service and repair entrance Auto dealer's service and repair facility Dealer for vintage cars
While the FTC did not name any companies in its release, other of the biggest auto dealers include AutoNation, Penske, Lithia Motors, CarMax, Group 1 Automotive and Sonic Automotive. None had an ...
In the United States, the Federal Trade Commission has oversight of franchising, rather than the US Securities and Exchange Commission. [citation needed] [clarification needed] The FTC administrates oversight via the FTC franchise rule. [1] The FTC announced an update to the franchise Rule on January 23, 2007, becoming effective July 1, 2007. [2]