CDK Cyberattack Expected to Cost Car Dealers More than $1 billion, Michigan Study Says

A cyberattack on Chicago-based dealership software provider CDK Global that began June 19 forced CDK to shut down most of its systems across the country for its dealership customers until July 5. It left about half of the nation's car dealerships struggling to operate, forcing some to return to the days of pen-and-paper. According to Bloomberg, the group that orchestrated the attack demanded tens of millions of dollars in ransom to end it.

The result of the attack led J.D. Power and GlobalData to forecast late last month that U.S. retail sales in June across all automakers will be about 5.4% lower than they were in June 2023.

Read the Detroit Free Press article

• Aaron H. Jacoby

  Los Angeles Managing Partner