On March 13, the FTC announced that it has sent letters cautioning 97 automotive retailers that advertised vehicle prices must reflect the total cost to consumers, including all mandatory fees. The letters urged the recipients to review their advertising and pricing practices to ensure that listed prices accurately reflect the amounts consumers will be required to pay. The FTC cited pending enforcement actions in various markets to illustrate its efforts to ensure advertised pricing is “transparent and truthful.” It further stated that it will continue monitoring the marketplace and take additional action as warranted to ensure compliance with applicable laws and regulations. The agency identified several practices it considers unlawful under the FTC Act, including: (i) advertising prices that exclude required fees; (ii) advertising the price inclusive of discounts that may not be available to all consumers; (iii) failing to identify additional required down payments for the advertised price; (iv) conditioning price on dealer financing; (v) requiring add-on purchases not reflected in prices; and (vi) advertising unavailable vehicles.