Newer model vehicles are equipped with a tire pressure monitoring system (TPMS) to warn drivers that at least one of their tires is underinflated. The dashboard light looks like an exclamation point inside of a horseshoe and, if illuminated, should be addressed immediately. When the TPMS light goes on, it should not be ignored. Driving on underinflated tires can lead to an accident or cause damage to your vehicle.