While a pivot to remote sales and home vehicle deliveries has provided greater convenience to consumers, the approach could expose dealers to a nearly 50-year-old federal law that regulates their ability to conduct a sale at a setting other than their permanent place of business.
The state's Predatory Loan Prevention Act places a 36 percent cap on all consumer loans of less than $40,000 and includes guaranteed asset protection products sold on vehicle purchases as part of the interest rate calculation — a major detail that makes the law significant for franchised dealers in the state.
The Alliance for Automotive Innovation is focusing on ways to determine appropriate driver engagement while educating the public on the limitations of driver-assist features.
The president has signaled his administration is committed to a transition to electric vehicles and helping the auto industry get there. Meanwhile, the global semiconductor shortage has become a priority.
NHTSA has opened a 30-day comment period on the withdrawal notice. If finalized, the regulatory action would “establish a clean slate” and no longer prevent states from implementing regulations tougher than the national standard.
In an open letter to the president, the businesses — which include Lyft, IHS Markit, Google, Amazon and other major corporations — are calling on Biden to set a target of cutting greenhouse gas emissions by at least 50 percent below 2005 levels by 2030.