Automotive

Breakdown: New FTC Regulations

Explain it like I’m 5 Challenge — Write in and let us know how you would explain these regulations to a 5-year-old. Our favorite answers may just become email content down the road!
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Breakdown: New FTC Regulations

Let's say, theoretically, you do not follow Steve Greenfield on LinkedIn. First, do you even care about being prepared to overcome any obstacles heading your way? Second, you should check out his recent breakdown of the new FTC auto dealer regulations

No-Nos. The regulations ban selling products that provide "no value" and misleading pricing ads while requiring additional pricing disclosures and an online list of add-on products with prices. The plan also limits how dealerships can communicate with consumers and requires additional effort for consumers who want to opt-in for protection products. 

Price and the public. Steve's short, powerful post also points out that the FTC expects compliance to cost between $1.4b and $1.6b over ten years. Of 1,649 public comments analyzed by Automotive Ventures, less than 1% favored reconsidering or delaying the regulations.

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