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Archive June 2024

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Cyberattacks Cripple Major DMS Provider

Significant back-to-back cyberattacks on CDK Global, a leading provider of dealership management software, have sent shockwaves through the automobile dealership industry. The attacks, which began Tuesday evening, forced the company to shut down most of its systems, effectively halting sales at approximately 15,000 car dealerships across the U.S. Although CDK restored some of its systems after the initial attack, another attack late on Wednesday, June 19, forced the company to shut down its systems yet again.

 

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Finance Commission of Texas to Hear OCCC Rule to Raise Documentary Fee

The Finance Commission of Texas is scheduled to meet on Friday, June 21st to hear the Office of Consumer Credit Commissioner's (OCCC) proposed rule to increase the maximum allowable documentary fee for motor vehicle installment sales from $150 to $225. TIADA will be testifying in strong support of this rule change, which reflects the increased costs dealers face in processing vehicle sales.

 

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2024 TIADA Conference & Expo: Unveiling the Future for Independent Dealerships

Attention dealers! Get ready for an unparalleled experience at the 2024 TIADA Conference & Expo, designed to propel your dealership to new heights. This year's conference boasts a fresh format with three captivating general sessions that address the most pressing industry topics. Stay informed on the latest regulatory updates, industry insights, and dealership best practices by attending this year’s event. The 2024 Conference & Expo will be the most important conference for independent dealers in recent years, and the early bird deadline is June 21, so register soon to save big.

 

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Challenging the CARS Rule: The FTC’s Reply

You may know that TIADA and NIADA have issued arguments against the FTC CARS Rule, and now the FTC has issued its reply. The FTC recently rolled out the “CARS Rule” (Combating Auto Retail Scams Trade Regulation Rule), and it’s got the whole independent automobile industry alarmed. While the FTC claims the rule is designed to protect consumers, as independent dealers in Texas, it’s crucial to understand what this means for your business and how it might impact your day-to-day operations.

 

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