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Market Chatter: CDK Global Says Auto Dealer Software Outage May Not Be Fixed Before June Ends
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Market Chatter: CDK Global Says Auto Dealer Software Outage May Not Be Fixed Before June Ends
Jun 26, 2024 5:16 AM

07:53 AM EDT, 06/26/2024 (MT Newswires) -- CDK Global does not expect the outage caused by a cyberattack in its dealer management software to be restored before the month ends, Reuters reported Tuesday, citing a company memo.

Car dealers including AutoNation ( AN ) , Lithia Motors (LAD) and Group 1 Automotive ( GPI ) which use CDK's systems were warned of business disruptions following a cyberattack that occurred last week.

The software provider would not be able to get all dealers live before June 30 and has asked them to make contingency plans for month-end financial closings, Reuters said.

CDK did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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