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...

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https://www.marketwatch.com/story/amazon-to-launch-online-vehicle-sales-in-2024-and-carmax-carvana-stocks-dive-f6f15719

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