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Car dealership stocks fell on Thursday after Amazon announced it is going to sell cars.
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Amazon said it would launch online car sales in 2024 in partnership with Hyundai.
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Shares of Carvana, Carmax, and Autonation fell as much as 8% following Amazon’s announcement.
Car dealerships like Carmax, Autonation, and Carvana are about to see increased competition after Amazon announced it will launch online vehicle sales next year.
Shares of all three companies fell…
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