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CarSaver: Walmart Expands Car Buying Service to 250 Stores

The program had been in pilot mode in 14 stores previously

By Karl Utermohlen, InvestorPlace Writer

http://bit.ly/2G2r27C

Walmart Inc (NYSE:WMT) announced that it is expanding its car buying service CarSaver to 250 stores.

Walmart CarSaver
Source: Flickr>

On Wednesday, the retail company said that it would be making the expansion from what was essentially a pilot program that had been in place at 14 company stores since being announced last year. The service is essentially a digital automotive marketplace.

The Miami-Based company CarSaver consists of a network of certified dealerships, banks and insurance companies to aid the car-shopping and buying-assistance needs of Walmart customers. Every car or vehicle bought through the service includes a lifetime warranty.

“CarSaver’s unique platform helps our customers understand the true cost of ownership, while also helping them save money with buying, financing, leasing and insuring a new or used vehicle,” said Daniel Eckert, senior VP of Walmart services and digital acceleration.

Data and research from CarSaver has revealed that the average company customer has saved more than $3,500 off sticker price on the purchase of these vehicles, as well as about $3,900 on repairs that have been covered by the company’s lifetime warranty.

When the service ran in pilot stores, the Car Shopping Centers would run as independent operators, usually across Walmart checkout lanes.

The retailer is also rolling out a vehicle purchase program to its employees, which will be released soon in order to help Walmart’s 1.5 million U.S. employees save time and money when shopping for a car.

WMT stock was trading flat Friday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/03/walmart-carsaver-inc-wmt/.

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