Amazon to let auto dealers sell vehicles on its website from 2024

November 17, 2023 06:32 AM AEDT | By Invezz

Amazon to let auto dealers sell vehicles on its website from 2024 — Image source: Invezz

Amazon has partnered with Hyundai

The multinational said Hyundai vehicles will be the first one next year that consumers will be able to purchase online directly through its eCommerce platform.

Buyers will then have an option to either pick the vehicle up themselves or have a local dealership deliver it to them. In return, Hyundai cars will come integrated with Amazon’s voice assistant (Alexa) from 2025.

The news arrives only days after Amazon partnered with Snap Inc as well to bring social shopping to over 400 million users on that social media app.

Shares of the Seattle-headquartered firm are up a whopping 65% for the year at writing.

Watch here: https://www.youtube.com/embed/qO-MYI6mFl4?feature=oembed

Amazon wants to enter the auto sales market

The announcement on Thursday reiterates that Amazon.com Inc wants to penetrate the $1.2 trillion auto sales market. Shares of CarMax and Carvana – online used car retailers are down more than 5.0% at writing.

So far, potential buyers could use digital showrooms on the eCommerce platform to compare vehicles. But now they’d also be able to checkout on Amazon as well. According to the Nasdaq-listed firm:

The new feature will create another way for dealers to build awareness of their selection and offer convenience to their customers.

Consumer will also be able to purchase replacement parts and related car products on the website, as per Amazon. Wall Street currently has a consensus “buy” rating on its shares.

The post Amazon to let auto dealers sell vehicles on its website from 2024 appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.