- Wal-Mart (WMT -0.7%) plans to start selling cars in the U.S. through partnerships with dealership chains such as AutoNation (AN +1.6%).
- The company is starting the initiative at 25 Wal-Mart Supercenters in a partnership with online platform CarSaver.com. Wal-Mart will direct consumers to dealer lots after working out the sales price, financing and insurance details with buyers.
- Reports indicate that the company hopes to sell about 1K vehicles a year per Supercenter. If the program were to be rolled out nationally, that sales target works out to 3.5M annual units.