Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Investors were not willing to make any big bets ahead of inflation data due this week. AutoZone missed quarterly sales and profit forecasts as inflation continues to bite.
On Wednesday, Wall Street will get a look at the consumer price index for November.
Related: Amazon, Walmart threatened by a new retailer young people love
Turning to other business headlines, Amazon is adding cars to the things you can buy on its website. It’s a limited service for now - just new cars sold by Hyundai. The service called Amazon Autos effectively takes the haggle out of the car buying process.
Fan Jin, global head of Amazon Autos, said in an online post, “We’re bringing the simplicity and ease customers expect from Amazon to car shopping, one of their largest purchases, while offering dealers a new channel to connect with a broad audience.”
Buyers in 48 cities can browse Hyundai’s dealer inventory for make, model, trim, color, and whatever bells and whistles desired. Financing and a price quote for trade-ins are right there on the Amazon app too. All the final numbers, including taxes and fees, are right up front.
There’s nothing left to do but sign all the paperwork using e-signature and then schedule your
pick-up with the dealer. While Amazon is known for free shipping, it’s not shipping cars.
Amazon isn’t actually selling the car, it's offering its technology and platform for the dealer to sell the car. Car buyers can already purchase an automobile online via Carvana, Tesla, and CarGurus.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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