Amazon (AMZN.US) launches Amazon Auto to compete with Costco (COST.US)
AInvestWednesday, Dec 11, 2024 9:00 am ET
1min read
AMZN --

Amazon (AMZN.US) officially launched Amazon Auto in 48 cities in the US on Tuesday, aiming to compete with Costco's (COST.US) popular car-buying program.Amazon Auto will initially offer online car shopping services from modern car dealers in major metropolitan areas across the US, according to the company. Amazon plans to add more manufacturers, brands, cities, and new features to its online car-buying program by 2025.The Amazon Auto online experience will allow users to browse and search for available vehicles at local dealerships by brand, model, trim, color, and features. Customers can also get instant valuations and trade in their existing vehicles for new ones. The program also features transparent pricing and financing options."We are working with dealers and brands to redesign car shopping to be more transparent, convenient, and customer-friendly," said Fan Jin, CEO of Amazon Auto.Costco's car program allows members to buy new cars and certified used cars. The program works with a network of over 3,000 dealerships across the US. Meanwhile, Walmart (WMT.US) also offers car-buying services, but they are less mature than Costco's. Walmart's service mainly plays a facilitator role, guiding customers to local dealerships without the structured program like Costco's.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.