You can buy a Hyundai on Amazon

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Amazon and Hyundai’s new partnership.

Transcript

00:00I'm Conway Gaines reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:05Investors were not willing to make any big bets ahead of inflation data due this week.

00:10AutoZone missed quarterly sales and profit forecasts as inflation continues to bite.

00:15On Wednesday, Wall Street will get a look at the Consumer Price Index for November.

00:20Turning to other business headlines, Amazon is adding cars to the things you can buy on

00:25its website.

00:27It's a limited service for now, just new cars sold by Hyundai.

00:30The service, called Amazon Autos, effectively takes the haggle out of the car buying process.

00:36Fan Jin, global head of Amazon Autos, said in an online post, quote,

00:40We're bringing the simplicity and ease customers expect from Amazon to car shopping, one of

00:46their largest purchases, while offering dealers a new channel to connect with a broad audience.

00:52Users in 48 cities can browse Hyundai's dealer inventory for make, model, trim, color and

00:58whatever bells and whistles desired.

01:00Financing and a price quote for trade-ins are right there on the Amazon app too.

01:06All the final numbers, including taxes and fees, are right up front.

01:10There's nothing left to do but sign all the paperwork using eSignature and then schedule

01:14your pickup with the dealer.

01:16While Amazon is known for free shipping, it's not shipping cars.

01:21While Amazon isn't actually selling the car, it's offering its technology and platform

01:26for the dealer to sell the car.

01:29Car buyers can already purchase an automobile online via Carvana, Tesla and CarGurus.

01:36That'll do it for your daily briefing from the New York Stock Exchange.

01:38I'm Conway Gittens with The Street.