(1) The General Assembly finds and declares that the distribution and sale of motor vehicles in Arkansas vitally affects the general economy of the state and the public interest and the public welfare.
(2) The General Assembly further finds and declares that it is necessary, in the exercise of its police power, to regulate and to license motor vehicle manufacturers, factory branches and divisions, distributors, distributor branches and divisions, distributor representatives, new motor vehicle dealers, and salespersons doing business in Arkansas in order to: Prevent frauds, unfair practices, discrimination, impositions, and other abuses upon the citizens of Arkansas;
(3) Avoid undue control of the independent motor vehicle dealer by motor vehicle manufacturing and distributing organizations;
(4) Foster and keep alive vigorous and healthy competition;
(5) Prevent the creation or perpetuation of monopolies;
(6) Prevent the practice of requiring the buying of special features, accessories, special models, appliances, and equipment not desired by a motor vehicle dealer or the ultimate purchaser;
(7) Prevent false and misleading advertising;
(8) Promote and keep alive a sound system of distribution of motor vehicles to the public; and
(9) Promote the public safety and welfare.