TrueCar and automotive dealerships just can't seem to stay out of the spotlight. An investigation is underway by the Federal Trade Commission into a number of dealers that stand accused of "agreeing to refuse to deal with TrueCar," according to an FTC letter obtained by Automotive News. The alleged collusion, which would violate federal competition laws, has triggered a non-public investigation that has had many dealerships, and TrueCar itself, served with letters demanding documents.
The Federal Reserve is eying a move to dump a large portion of its remaining General Motors stock this summer, a move that could see taxpayers lose nearly $11 billion on the deal. According to The Wall Street Journal, GM stock hasn't done nearly as well as banks and Fed officials predicted it would, falling to $29.97 a share on Monday, down from its $33-per-share IPO in November.
Environmental groups will no doubt be disappointed to hear that the new clean air regulations imposed upon automakers by the Environmental Protection Agency will cost companies less than $1 per vehicle. The new regulations mostly address pollutants that come from exhaust tail pipes, predominantly on a cold startup.