Commenting on Amazon (AMZN) and Hyundai Motor (HYMTF) announcing a strategic partnership that will include Amazon launching online sale of Hyundai vehicles in the U.S. in 2024, William Blair noted that neither CarMax (KMX) nor Carvana (CVNA) sells new cars so the firm would expect no impact. Should Amazon’s auto initiatives eventually include used cars too, the firm would view it as a similar competitive dynamic that the pair have faced from companies such as CarGurus, eBay (EBAY) and AutoTrader, added the analyst. William Blair has an Outperform rating on CarMax and a Market Perform on Carvana.
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