Sam's Club to boost auto business with Truecar dealers

Sam's Club, the membership warehouse club division of Wal-Mart Stores Inc, said on Thursday it has tied up with online car-shopping site TrueCar Inc in an effort to boost its auto business.

Sam's Club said in a statement that the tie-up would give its members access to more than 10,000 TrueCar dealers and guaranteed savings off the manufacturer's suggested retail price for new cars as well as savings on used cars.

Shares of True Car were up 5.4 percent at $6.34 in morning trade. The stock of Wal-Mart was up 0.7 percent at $64.86.

Sam's Club competes with Costco Wholesale Corp, which has expanded its auto business significantly over the past several years.