Amazon to launch online vehicle sales, and stocks of CarMax, Carvana fall
Posted on AllSides November 16th, 2023
From The Center
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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...
AllSides Media Bias Rating: Center
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