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Amazon (AMZN) Unveils Car Research Platform to Aid Buyers

Zacks Equity Research
Updated

Online retail giant Amazon.com, Inc. AMZN recently announced the launch of Amazon Vehicles, a website that enables its users to do their own bit of research before zeroing in on a specific model of vehicle, accessory or auto part.

How it Works?

Just like any other shopping page on Amazon.com, Amazon Vehicles displays information in an organized manner. The site provides information on various types of vehicles, their make as well as manufacturers. One can either click on an image of a vehicle to discover more information on it or make use of the filtering tool displayed on the left sidebar of the site to search for a specific model or part.

Additionally, the site offers car reviews by actual users. However, the search results cannot be filtered on the basis of price as one cannot purchase the car through the site.

Like other Amazon listings, one can visit a specific page on a particular car and have the queries answered by actual users (presumably).

Why This Move?

With more and more people accessing the Internet for their automobile shopping related search queries, it comes as no surprise that Amazon has decided to launch a dedicated website for automobiles and related accessories. Moreover, having a huge database on vehicles will help Amazon to attract more people to its site..

Competition

Going forward, Amazon may decide to sell cars through Amazon Vehicles. However, we note that there is stiff competition in this segment owing to the presence of major players such as eBay Inc. EBAY, TrueCar, Inc. TRUE and AutoTrader.com among others.

AMAZON.COM INC Price

AMAZON.COM INC Price | AMAZON.COM INC Quote

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Zacks Rank

At present, Amazon has a Zacks Rank #3 (Hold).

A better-ranked stock in the broader technology space is Autobytel Inc. ABTL sporting a Zacks Rank #1 (Strong Buy).

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AMAZON.COM INC (AMZN): Free Stock Analysis Report
 
EBAY INC (EBAY): Free Stock Analysis Report
 
AUTOBYTEL INC (ABTL): Free Stock Analysis Report
 
TRUECAR INC (TRUE): Free Stock Analysis Report
 
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