The Federal Reserve board of governors voted 8-4 in favor of holding its target lending rate at 3.5% to 3.75%, where it has stood since December, in what was likely its last meeting led by chairman Jerome Powell. +
Multiple sources report Carvana has acquired Avon Lake (Ohio) Chrysler Dodge Jeep Ram from Elliot Schor and Scott Zuckerman, who owned the suburban Cleveland dealership for less than a year. +
Cox Automotive and Moody’s Analytics report higher incomes, steady interest rates and increased incentives offset a near-$50,000 average transaction price in March. +
Optimism is down and pessimism is up among U.S. franchised dealers — as well as manufacturers and suppliers — in Automotive News’s latest quarterly Auto Industry Confidence Index. +
In an unprecedented move, FTC Chairman Andrew Ferguson appeared in a live, NADA-hosted webinar to help clarify the agency’s position on vehicle pricing. Get a dealer debrief from attorney Jim Ganther and the experts at Mosaic Compliance Services.
Sales of full-size SUVs and pickups — and a decreased appetite for small cars — pushed the average U.S. new vehicle transaction price to $49,275 in March. +
Cox Automotive analysts say higher prices and longer purchase cycles helped dealers secure service business from 80% of new car buyers last year. +
Join a panel of legal, compliance and auditing experts for “Post-FTC/NADA Webinar Discussion: Dealer Advertising Compliance Insights & Q&A,” a free webinar from Mosaic Compliance Services, NCC and ProMax.
Lindsay Automotive owes $3.1 million to Maryland and up to $75 million to customers of three D.C.-area dealerships as part of a settlement with state and federal regulators. +
The Federal Trade Commission is targeting dealerships — and individual executives. Join Mosaic Compliance Services’ Jim Ganther and Tyler Raquet for insights and high-risk targets that may help you get your house in order.
