CDK cyberattack outage could lead to 100,000 fewer cars sold in June, experts say
CBSN
The CDK Global cyberattack is expected to cut auto dealerships' vehicle sales in June down by about 100,000, or more than 7%, compared with the same period in 2023.
The projected decrease is not reflective of weak demand, but rather the anticipated consequence of some dealerships' reliance on CDK sales software for transactions. Many dealers have been without full access to their systems for more than a week, with no promise from CDK that they'll be back up and running by the end of the month.
"An auto dealership is basically run by its dealer management system, or DMS — it's the financial backbone of these dealerships," Tyson Jominy, vice president of data & analytics at J.D. Power, told CBS MoneyWatch. "It connects all the pieces of a dealership together, including new and used vehicle sales and the financing. It's a very important operations system."
