NADA Issues Statement in Relation to FTC’s Refusal to Extend Comment Period for Sweeping Auto Retail Rule

In response to the Federal Trade Commission's denial of a comment period in relation to their proposed rulemaking that will affect franchised automotive dealers, Mike Stanton, NADA president and CEO, released the following statement:

“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.”