Brokerage | Leasing | Appraisal | Consulting 304-840-1781 | Quintie Smith at INVS@aol.com | 3818 MacCorkle Avenue SE Charleston, WV 25304 Office: 304-925-7000 | Website: realcorpinc.com An unmatched level of knowledge and experience in the real estate market. Commercial Real Estate Again, let me reiterate the urgency of complying with the new FTC Safeguards Rule. Continued from page 21 electric vehicles that violate a dealer’s franchise rights. Subaru has attempted to control what price a motor vehicle dealer can sell a motor vehicle through its “Love Promise Pricing Pledge.” Recently, we learned about General Motors EV reservation requirements and Nissan’s over-the-air update contract that appears to run counter to our franchise law. I do not doubt that over the next five years, one of the greatest challenges West Virginia motor vehicle dealers — and all dealers across the country — will face is manufacturers attempting to change the franchise business model, one that has which has served the buying public for well over 100 years. Dealerships provide a pricing competition for consumers. A consumer can receive three competing offers from local dealers on virtually the same motor vehicle. This is the free market at its best. If a manufacturer can sell directly to a consumer, there will be no price negotiation and no pricing competition. A consumer must pay the price unilaterally set by the manufacturer. This will be a negative outcome for consumers. Know that your West Virginia Automobile Dealer Association is taking significant steps to challenge manufacturers by placing them on notice of violating our West Virginia franchise law and their sales and service agreements. The Association will also continue to educate its members on these changes and is available to the motor vehicle dealer as you attempt to navigate this new environment. Again, let me reiterate the urgency of complying with the new FTC Safeguards Rule. Please begin the process immediately and should you have any questions about the new safeguard rule requirements or other manufacturer programs or contracts, contact the Association so that we can assist. t wvcar.com 22 WVADA
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