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- Car dealership stocks fell on Thursday after Amazon announced it is going to sell cars.
- Amazon said it would launch online car sales in 2024 in partnership with Hyundai.
- Shares of Carvana, Carmax, and Autonation fell as much as 8% following Amazon's announcement.
Car dealerships like Carmax, Autonation, and Carvana are about to see increased competition after Amazon announced it will launch online vehicle sales next year.