New York, Dec.11 (ANI): Desperate for sales of their cars in the wake of the Wall Street meltdown, car dealerships in the Apple City, are offering huge and deep discounts.
According to the New York Daily News, the dealerships have come up with options like "Buy one get one free!", and the deal is reported as being offered across the country.
"We've heard about the buy-one-get-one-free ads in Florida, Ohio and Texas," the NYDN quoted Richard Arca, a senior analyst at Edmunds.com, as saying.
"The first thing people think when they come in is 'It's a fake ad. It's a normal car dealer ad. It's a gimmick.' But it's not," said Ali Ahmed, a Dodge dealer in Miami who offered a buy-one-get-one-free deal.
Dealers are desperate to sell cars as the auto industry gets smacked with slumping sales.
"There is nothing they can do but sell them. They need to get these cars off the lot. They need to mitigate their losses," said Arca.
The auto industry is seeing a rough future ahead of it. GM, Ford, Chrysler, Honda, Toyota and Nissan all saw sales drop more than 30 percent this year.(ANI)