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FTC Declines Extension Request on New Regs, YouTubers Take Straight, EV Adoption Data

Author
ASOTU
Published
Thu 25 Aug 2022
Episode Link
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We have some work to do this Thursday as we cover the FTC declining of the deadline for public comment on proposed legislation. We also cover the barrage of negative dealer coverage on YouTube. We’re also going to take a look at EV adoption data. 

  • FTC declined all requests in a unanimous 5-0 vote for extending the time for public comment on proposed regulations for Auto Dealers leaving the end date at Sept 12th
    • NADA, NAMAD, NIADA and others requested extensions due to the sweeping nature of the proposed regulations, the fact that there was no prior discussion when they were announced, and also due to there being no meaningful data to review on such a short timeframe
    • NADA regulatory affairs Senior Vice President Paul Metrey wrote in a July 18 letter, "Any attempt to provide the Commission with meaningful data, information, and perspective on these massive inquiries will require considerably longer than the 60-day comment period
    • NADA CEO Mike Stanton wrote in a letter:
      • "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 judgment 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."
      • Here is a popular consumer advocacy YouTube channel's response to those statements . Yikes
    • Currently 2.24k comments
    • We need YOUR comments in the mix here
    • Watch these for your own good:
  • Here’s the data on BEV registrations YoY
    • Top 3
      • California – 563,070 (+137,770 EVs YOY)
      • Florida – 95,640 (+37,480 EVs YOY)
      • Texas – 80,900 (+28,710 EVs YOY)
    • Bottom 3
      • North Dakota – 380 (+160 EVs YOY)
      • Wyoming – 510 (+180 EVs YOY)
      • South Dakota –680 (+270 EVs YOY)
    • Top Growth
      • Oklahoma (+111% YOY)
      • Arkansas (+79.70% YOY)
      • Montana (+75.53% YOY)
    • The US has recently surpassed the 5% threshold of EV share of the market, a number many have labeled as the critical mass tipping point for widespread adoption according to the Electrik Article

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