June 19, 2024
On June 19 CDK Global, a major car dealership software company suffered a cyberattack prompting the company to take all systems offline “out of an abundance of caution.” Reuters reported CDK took down its dealer management system at more than 15,000 retail locations.
The outage has impacted about half of Volkswagen dealers and around 60% of Audi’s dealers and several card retailers also flagged disruptions. Dealers moved back to traditional pen and paper format to conduct operations. As a result new car sales for June are projected to fall.
The hacker group was identified as BlackSuit. As of Wednesday, July 3, the company is still working to get all impacted dealers back online. The date all dealerships using CDK are expected to be back online following the attack is July 4.
COST: A study from the Anderson Economic Group (AEG) estimated losses of over $1 billion for auto dealerships during the outage. The ransomware group reportedly received $25million. CDK agreed to pay $100Million in class action settlement
