WebJul 11, 2024 · FTC Begins Process To Adopt Rules For New Car Dealer Advertising And Sales Seyfarth's Future of Automotive Series On June 23, 2024, the Federal Trade Commission (FTC) announced that it has initiated the process to adopt regulations for dealers in connection with the advertising and sale of new cars. WebMar 11, 2024 · The survey of 264 dealers and dealership managers found differing opinions on what the FTC regulations would mean to their operations. Some called it redundant, bureaucratic and an increase in ...
Steering Your Auto Dealership into Compliance with New …
WebAug 8, 2024 · In December 2024, the Federal Trade Commission (FTC) revised the Safeguards Rule to require financial institutions to take additional measures to protect and secure customer information. The changes to the rule took effect in January 2024, and the compliance deadline is December 9, 2024. WebNov 8, 2024 · 1. Expensive Fines The new rule authorizes the FTC to impose fines on dealerships that don’t comply. The maximum fine you can incur is $11,000 per day per occurrence of a breach. Of course, the FTC will not impose fines for the first offense. However, they can enforce other financial penalties. lyric way maker
FTC Proposed Ground-Breaking Federal Regulation of Motor …
WebJul 13, 2024 · Auto Dealer Group to Cease Business Operations As Part of FTC Settlement (September 4, 2024) FTC Adds Charges Against Auto Marketer For Deceptive “Prize” … Web5 hours ago · Rivian Automotive launched the first electric pickup in late 2024 with a game-changing feat of engineering.. The R1T features an electric motor for each wheel, delivering 825 combined horsepower ... WebSep 13, 2024 · According to FTC data, dealerships averaged around $2,444 in profit per new vehicle each sale between 2024 and 2024. More than half of that profit came from financing and insurance. Among used... kishwer merchant tv shows