regulatory
confidence high
sentiment negative
materiality 0.80
FTC files complaint against Asbury Automotive over add-on product sales; company denies allegations
ASBURY AUTOMOTIVE GROUP INC
- FTC complaint filed Aug 16, 2024, alleging violation of FTC Act and Equal Credit Opportunity Act at three Dallas-area dealerships.
- Dealerships: David McDavid Ford of Ft. Worth, David McDavid Honda of Frisco and Irving.
- Asbury says internal review found customers signed consent; independent deal clerk verifies compliance; no consumer complaints from 2019-2024.
- CEO David Hult vows vigorous defense, says FTC refused to share methodology despite months of requests.
- Asbury claims non-discrimination policies and a Chief DEI Officer; denies minority price differential.