John Huetter

Cox's spring survey found dealers optimistic about the future and feeling the best about used vehicles since Q3 2022. But the economy grew to be a problem for 54% of dealers.

The Federal Trade Commission is watching dealers' advertised vehicle prices and says stores are responsible for their listings on third-party sites. However, vendors such as Cars and CarGurus have updated their sites to support dealer compliance.

The settlement resolves claims from six plaintiffs who alleged their names and Social Security numbers were compromised in a December 2023 breach but doesn't preclude other class-action litigation against Asbury.

The 97 auto retailers the Federal Trade Commission warned it suspected of illegal advertising practices included industry leaders Lithia Motors Inc., AutoNation Inc. and Hendrick Automotive Group.

Attorney General Letitia James' settlement requires Nissan Motor Acceptance to audit 45 dealerships and refund any customers overcharged on lease buyouts during shortages.

Honda of the Bronx charged an average of $2,854 more than advertised on 24 vehicles and committed other violations after the dealership was sold in August, a New York City agency alleged. Its settlement was much lower than the 250,875.94 the city once said it could charge.

The FTC confirmed its March letters to 97 dealership groups were not notices of penalty offenses, one of three ways the agency can bring fines of more than $53,000 per violation.

The Federal Reserve held interest rates steady in June but reversed course saying to expect a quarter-point increase later this year.

Louisiana directed dealerships to follow stricter FTC advertising rules despite state code allowing document fee exclusions. Massachusetts reminded dealers it already requires document fees in advertised prices.