After it was announced that Ford (F) will start selling certified pre-owned vehicles through Amazon (AMZN), Truist noted that this news comes on the heels of Amazon partnering with Hertz (HTZ) to offer used vehicles in August and the December 2024 launch of their partnership with Hyundai (HYMLF). The firm, which had viewed as “only a matter of time” before Amazon continued to expand its presence in the used vehicle market, believes that if the efforts start to result in notable mindshare then it could “obviously create another competitive headwind” for CarMax (KMX), which it says is already facing a “growing list of challenges.” Truist has a Hold rating on CarMax, which is down about 2.5% to $33.58 in midday trading.
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