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Amazon says online Hyundai sales will help dealerships

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In a groundbreaking move, Amazon is set to enter the automotive retail industry, planning to sell Hyundai vehicles online starting in 2024.

This partnership between the e-commerce giant and the South Korean automaker marks a significant shift in how consumers purchase vehicles.

The collaboration aims to offer customers a seamless and convenient online shopping experience for Hyundai cars.

Through Amazon’s platform, prospective buyers can browse various models, customize their options, and even schedule test drives. This initiative is part of Amazon’s ongoing effort to diversify its product offerings and expand its presence in the automotive market.

By entering the online vehicle sales arena, Amazon seeks to tap into the growing trend of digital car shopping, offering buyers a simplified process and transparent pricing.

This move also raises questions about the future of traditional dealerships and how this shift will impact the automotive industry as a whole.

Amazon tells Ticker is working with dealers to drive millions of customers to their front doors.

“This is part of our longstanding commitment to helping small businesses succeed, and we’re excited to see how this new shopping experience will help auto dealers and their local communities,” Amazon said in a statement to Ticker.

While Amazon’s entry into the automotive market presents exciting opportunities, it also raises concerns about competition and potential disruption to existing dealership networks.

Additionally, ensuring customer trust and satisfaction with such a high-value purchase will be paramount.

As the launch date approaches, both Amazon and Hyundai will likely face scrutiny and anticipation from industry experts and consumers alike.

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Is GenerativeAI transforming education?

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Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

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How AI is leveraging Amazon’s fast production

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Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

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Tech

Tesla is slashing prices to stay competitive

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Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.
Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.

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