Auto dealers in limbo as software company makes slow recovery from cyber attack
Money | June 23, 2024, 3:53 p.m.
Retail technology and software provider CDK Global is currently working on restoring systems for over 15,000 retail locations across North America after a cyber hack. The company expects this process to take several days. CDK is actively engaging with its customers, providing alternative ways to conduct business while their systems are down. Some dealers have been informed that it may take additional time for the systems to be fully operational. US auto retailers like Sonic Automotive and Penske Automotive have reported disruptions to their operations due to CDK's outage. A group of hackers responsible for the cyberattack on CDK has demanded a ransom to stop the hack. CDK was recently acquired by Brookfield Business Partners for $6.41 billion, making it the last major publicly traded provider of software to auto dealers and manufacturers.