The FTC has issued FAQs to help auto dealers comply with price transparency requirements, emphasizing that advertised prices must be the actual price consumers can pay, excluding only government-mandated charges.
Staff of the Federal Trade Commission today published frequently asked questions on price transparency to help the automobile industry comply with the FTC Act.
Staff of the Federal Trade Commission today published frequently asked questions on price transparency to help the automobile industry comply with the FTC Act. The guidance reiterates that the advertised price of a vehicle must be the actual price that any consumer can walk in and pay to purchase the vehicle, excluding only charges that the government requires the consumer to pay.
Earlier this year, the Commission sent letters to 97 auto groups nationwide encouraging dealers to review their advertising practices and warning them that the prices they advertise must be the actual price—including all mandatory fees—that consumers will be required to pay.
