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FTC Launches “Combating Auto Retail Scams” Rule

The Truth About Cars

The Federal Trade Commission (FTC) has announced the finalization of the new Combating Auto Retail Scams (CARS) rule designed to prevent auto dealers from utilizing bait-and-switch tactics and hidden junk fees. If consumers see that a dealer is complying with the CARS Rule, it adds a measure of confidence.

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Mullen secures $150 million financing deal, production Bollinger is a go

Baua Electric

Commercial EV manufacturer Mullen has scored a $150 million capital infusion that will allow it to expand its domestic and international sales efforts – and put Bollinger’s beefy electric trucks into series production. FTC: We use income earning auto affiliate links.

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Kia is paying dealers to sell EVs – that could mean deals for buyers

Baua Electric

Photo: Kia Kia is paying its dealers up to $1,500 in flat payments for each EV sold in April, so buyers, there may be good prices to be had. Through April 30 , the Kia April 2024 Dealer Flat Cash Program will pay dealers $1,500 for every EV6 GT sold and $1,000 for every 2023 Kia EV6 sold. But what’s in it for you?

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The Biden Administration is on track to meet its 2030 EV sales goal

Teslarati

The Biden Administration is on track to meet its 2030 electric vehicle (EV) sales goal, said Energy Secretary Jennifer Granholm. The Biden Administration aims to have EV sales make up 50% of all car sales in the United States by 2030. It has even started winning over auto dealers in 2024.

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April auto gross sales defy financial hesitancy

Baua Electric

Stated Zack Krelle, an analyst with TrueCar: “Interest rates on vehicle loans appear to be plateauing as manufacturers offset higher financing costs with increased APR-based relief.” When compared with April 2022, Hyundai gross sales have been up 15 p.c

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Fisker pivots to franchised dealerships for EV sales, support

Baua Electric

Fisker on Thursday said it would add franchised dealerships alongside company-owned showrooms, pivoting away from the pure direct-sales model previously discussed. “We are evolving our business model and intend to add as many as 50 dealer partners in the U.S. Tesla made direct sales part of the EV-startup template.

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BMW may implement a Tesla-esque direct to consumer sales model

Teslarati

BMW Group is considering implementing a direct-to-consumer sales model for their MINI and BMW brands. The system is far from finalized, and the Finance Chief clarified that the auto group is currently in talks with dealers. The decision to move away from the dealership model is a move that many have praised online.

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