Cars Amazon Eyeing British Drivers Sends Auto Trader Shares Tumbling

18:25  16 june  2017
18:25  16 june  2017 Source:   bloomberg.com

Amazon drops its unlimited cloud storage plan

  Amazon drops its unlimited cloud storage plan For a couple of years now, Amazon has had one of the more desirable cloud storage plans out there, offering infinity terabytes for just $60 per year. In what is probably not a coincidence, Amazon is now charging exactly the same, per terabyte, as Apple does for its iCloud plan. Just two days ago, Apple unveiled a 2TB plan, giving users double the storage of its previous plan for the same $120 per year price tag.

While Auto Trader ’s market position in the UK is “very, very strong,” anytime newcomers such as Alphabet’s Google or Amazon show interest, “it’s enough to unsettle investors,” said Paul Richards, a London-based analyst at Numis Securities.

U.S. retailer plans to sell cars in U.K., magazine reports; European expansion would follow limited market run in Italy.

A row of 2016 Toyota Motor Corp. Camry vehicles sit on display for sale on the lot of the Peoria Toyota Scion car dealership in Peoria, Illinois, U.S., on Wednesday, June 29, 2016. Ward's Automotive Group is scheduled to release total and domestic auto sales on July 1.: 1480615926_Toyota © Bloomberg/Bloomberg 1480615926_Toyota

(Bloomberg) -- Europe’s online car market is about to get more crowded, with a plan by Amazon.com Inc. to sell vehicles in the U.K. unnerving shareholders of the region’s biggest auto websites.

Britain’s Auto Trader Group Plc fell to a two-month low following a report that Amazon plans to expand its cars offering in Europe beyond a current test run in Italy. The U.S. retailing giant, which already sells vehicles in its home market, is seeking to fill a gap as traditional dealerships lose appeal.

Tech companies from Apple Inc. to Alphabet Inc. are upending established industry structures as almost every aspect of making, driving and buying cars changes. Seattle-based Amazon, which has been testing European waters with a limited offer of Fiat Chrysler Automobiles NV models in Italy, is now in talks to start sales in the U.K. before potentially adding other countries, German trade magazine Automobilwoche reported.

Amazon opens Alexa voice control to all video streaming services

  Amazon opens Alexa voice control to all video streaming services Alexa is about to be even more useful when it comes to your entertainment needs. Simple voice commands already let you navigate apps like Netflix, but tools to incorporate those types of commands are now available to any TV company, streaming service and other content providers.Amazon just introduced its Video Skill API, which will allow developers to expand how Alexa lets users find content in their apps. With this tool, entertainment apps could let their customers find specific shows or movies, search genres or even change the channel with voice commands.

While Auto Trader ’s market position in the U.K. is “very, very strong,” anytime newcomers such as Alphabet’s Google or Amazon show interest, “it’s enough to unsettle investors,” said Paul Richards, a London-based analyst at Numis Securities.

Britain's Auto Trader Group Plc fell to a two-month low following a report that Amazon plans to expand its cars offering in Europe beyond a current test run in Italy. British political uncertainty risks slowing M&A, dealmakers say.

Related: Buying a car off Amazon? (CNBC)


Manufacturers, which typically sell autos through affiliated dealers, are responding to changing habits by allowing customers to configure cars online. BMW AG is testing online-only sales in some markets, and Mercedes-Benz and Jaguar Land Rover have opened urban brand stores complete with restaurants and juice bars.

While Auto Trader’s market position in the U.K. is “very, very strong,” anytime newcomers such as Alphabet’s Google or Amazon show interest, “it’s enough to unsettle investors,” said Paul Richards, a London-based analyst at Numis Securities.

Tech tycoons lose billions in stock market fall

  Tech tycoons lose billions in stock market fall A drop in the value of US technology stocks has wiped billions of dollars off the net worth of some of the world's richest people.A drop in the value of US technology stocks has wiped billions of dollars off the net worth of some of the world's richest people.

Amazon eyeing British drivers sends Auto Trader shares tumbling . US top court rules for Microsoft in Xbox class action fight. Testing Samsung’s pocket-PC Galaxy S8 and display dock DeX.

Amazon eyeing British drivers sends Auto Trader shares tumbling . US top court rules for Microsoft in Xbox class action fight. Testing Samsung’s pocket-PC Galaxy S8 and display dock DeX.

The Manchester, England-based online sales platform, which gets almost all of its revenue from the U.K., dropped as much as 5.8 percent to 395.60 pence in London trading, making it the worst performer on the FTSE 350 Media Index. That was the lowest intraday price since April 19. German competitor Scout24 AG slumped 5.4 percent, the most in 11 weeks.

A spokesman for Amazon declined to comment on European plans and it’s not clear whether new or used cars will be offered. The company last year announced a deal to sell three Fiat subcompacts, including the 500 and Panda, on its Italian website. The program was extended in March and now also includes long-term leases.

Related: Essential steps to take when buying a used car (Wochit Tech)

Amazon's deal to buy Whole Foods hits shares in US retailers .
Amazon's deal for supermarket chain Whole Foods has sent US shares in grocery stores, big retailers and food makers and distributors plunging. It is rare for a single deal to have a big effect on the broader stock market but Amazon's agreement to buy Whole Foods Market did.Investors wondered if Amazon will do to grocery stores and supermarkets what it has done to sellers of goods like clothing and office supplies - force them to make big changes or be supplanted.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!