Amazon is set to venture into the automotive retail space, as reported by the WSJ, with plans to start selling cars online later next year. In 2024, customers will be able to finance and purchase new Hyundai vehicles through Amazon's platform, with the goal to make the process as straightforward as purchasing household items. Initially, only new Hyundai vehicles will be featured, with intentions to broaden the offerings to trade-ins and used cars. Amidst this development, the automotive industry is witnessing a trend towards eco-friendly vehicles, with carmakers innovating with sparse, eco-friendly cabins in electric vehicles (EVs) and hybrids, targeting consumers easing into electrification. However, the US's EV market growth is hampered by environmental permit issues, slow delivery of financial incentives by the Biden administration, and consumer concerns over EV affordability and infrastructure. In a related setback, Samsung's new US chip factory production has been delayed to 2025, as reported by the Daily, due to sluggish Chips Act payouts, with mass production now expected after the 2024 election.
The Biden administration’s push to entice more Americans to buy electric vehicles is falling short of expectations as consumers fret over prices, battery range and a lack of charging stations. https://t.co/Lp2TUWaBwK
Another Major US Chip Plant Delays Mass Production Until After 2024 Election https://t.co/zCFvD8PYpx
US Govt's sluggish Chips Act payouts slam the breaks on Samsung's fab — company delays mass production at Texas fab to await further CHIPS funding: Report https://t.co/TXsxISU53J https://t.co/ogH7F6Zkyi
Samsung delays production at new US factory to 2025, Daily says https://t.co/8IDB6z2C1o via @business
"Amazon last month said shoppers next year will be able to browse, finance and complete a purchase of Hyundai vehicles... Eventually, Amazon wants to expand to trade-in vehicles and used cars." https://t.co/QuaCm5geS6
Carmakers are lining their electric vehicles with trash — literally — and hoping sparse, eco-friendly cabins will redefine luxury for a new generation of buyers. https://t.co/Hgoi0ia0Yd
"US environmental permit issues and the Biden administration’s slowness in delivering financial support have been plaguing domestic chip projects." https://t.co/hgBRKG5tmU
As automakers push their flashy new electric vehicles (EVs), many consumers making the jump from gasoline cars are opting instead for hybrids as they tiptoe toward electrification. https://t.co/GeZazFspij
Great WSJ article about Amazon selling cars online: "When the new service launches later next year, Amazon said shoppers will be able to complete every step of the car-buying process through its website. Only new Hyundai vehicles will be available at the start. Consumers will… https://t.co/WgoPCsICxX
Amazon executives want to make buying vehicles through its website as simple as purchasing toilet paper or dog food, and the company is looking to strike broad partnerships with carmakers. https://t.co/3F8SBne8yh
AMAZON IS A GO-TO FOR TOILET PAPER AND BATTERIES. CAN IT SELL CARS? (WSJ) Amazon said car buyers would be able to finance and purchase Hyundai vehicles on its platform starting in 2024. https://t.co/rxbKuGLYXh