July 18th 2024.
Grays, an online auction company, has recently been hit with a hefty fine of $10 million for falsely advertising cars on their website. This misleading information affected hundreds of customers who may have unknowingly purchased cars that did not meet their expectations.
According to Grays, the false descriptions were posted between July 1, 2020 and June 30, 2022. This means that for two years, hundreds of cars were listed with incorrect information, such as wrong manufacturing dates and failure to mention any obvious faults. This deceptive practice resulted in significant losses for consumers, estimated at $3.86 million.
The Australian Competition and Consumer Commission (ACCC) Commissioner Liza Carver stated that Grays had made false or misleading representations in at least 750 car descriptions on their website. As a result, many consumers ended up buying cars they would not have chosen otherwise, or paying more than they should have.
Carver also highlighted the impact this misconduct had on affected consumers. Many of them had to invest a lot of time and effort in trying to get a remedy from Grays, and some even had to pay for repairs or sell the car at a loss. The Federal Court has now ordered Grays to compensate all customers impacted by the false descriptions.
As Grays begins the process of reaching out to affected car owners, the ACCC is warning the public about scam callers who claim to be able to help secure a refund from various businesses. The consumer watchdog advises people to be cautious and never provide personal information, give access to their computer or bank account, or click on suspicious links in text messages or emails.
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