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Amazon to launch online vehicle sales, and stocks of CarMax, Carvana fall

Posted on AllSides November 16th, 2023
From The Center
AFP via Getty Images

Shares of auto retailers CarMax Inc. and Carvana Co. took a dive Thursday, after Amazon said it would launch vehicle sales online next year.

Amazon AMZN, -0.26% said that starting in 2024, auto dealers will be able to sell vehicles on Amazon’s U.S. platform for the first time. The e-commerce giant said Hyundai Motor Co.’s 005380, +1.26% vehicles would be the first brand available to buy online.

“This new digital shopping experience will make it easy for customers to purchase a new car online, and then pick it up or...

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