NADA Responds to FTC’s Refusal to Extend Comment Period for Sweeping Auto Retail Rule
TYSONS, Va. (August 23, 2022)—Today, NADA President and CEO Mike Stanton released the following statement in response to the Federal Trade Commission’s (FTC) denial of a comment period extension related to their proposed rulemaking affecting franchised auto dealers:
“The FTC’s refusal to grant a routine extension of a public comment period, particularly for a proposed rule of such sweeping magnitude that involved no advanced notice, further displays an unnecessary and misguided rush to judgement in this matter. This proposed rule would cause great harm to consumers by significantly extending transaction times, making the customer experience much more complex and inefficient, and increasing prices, and NADA again urges the FTC to go back to the drawing board before forcing a series of unstudied and untested mandates lacking evidence that will have such significant negative impacts on customers.”
The National Automobile Dealers Association (NADA), founded in 1917, represents more than 16,000 light-vehicle and commercial-truck dealerships with 32,500 domestic and international franchises. New-vehicle franchised dealers are directly responsible for more than one million U.S. jobs.