NADA DIRECTOR’S MESSAGE RICK DESILVA, JR., DIRECTOR, NADA The following is the latest on some of the major issues being addressed by NADA. Please don’t hesitate to contact me at rick.desilva@libertysubaru.com if you have any questions. NADA APPLAUDS ADVANCEMENT OF LEGISLATION TO STOP FTC’S FLAWED VEHICLE SHOPPING RULE The House Financial Services and General Government (FSGG) Appropriations Subcommittee recently passed the Fiscal Year 2025 appropriations bill, which included a NADA-backed provision that would stop the Federal Trade Commission (FTC) from implementing or enforcing the Vehicle Shopping Rule (also known as the “CARS Rule”) until September 30, 2025. The onerous Vehicle Shopping Rule, finalized at the end of 2023, is simply terrible for consumers. It will add massive amounts of time, complexity, paperwork, and cost to car buying and shopping for tens of millions of Americans every year by requiring dealers to provide an extensive series of unnecessary written and oral disclosures when communicating with consumers related to the vehicle sales price, certain credit terms, and voluntary protection products. A study by the Center for Automotive Research (CAR) found the Vehicle Shopping Rule would cost more than $24 billion over the next decade and would add 60-80 minutes to the car buying process, which would harm consumers. Scan the QR code to review the full CAR study. https://www.cargroup.org/publication/ assessment-of-cost-associated-with-theimplementation-of-the-federal-trade-commissionnotice-of-proposed-rulemaking-addendum/ Commenting on the Vehicle Shopping Rule, NADA President and CEO Mike Stanton said, “This flawed rule would upend the sales process for consumers and small businesses. Either through the courts or Congress, this rule needs to be stopped before it wreaks havoc on consumers and the entire car-buying and car-shopping process.” NADA Updates 10 NEW JERSEY auto retailer
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