July 2 (Reuters) - Top U.S. automakers reported slower
growth in new vehicle sales for the second quarter after a
software widely used by dealers in their daily operations
suffered a cyber attack in the last few days of June.
General Motors ( GM ) reported a 0.6% rise in new vehicle
sales, compared with a jump of 19% last year, and said some
sales would shift to the current quarter due to the attack on
CDK's Dealer Management Software.
Market research firm Cox Automotive estimates U.S.
new-vehicle sales volume in the second quarter likely grew 1% to
nearly 4.2 million units. New vehicle sales had surged about 16%
year-on-year in the corresponding period in 2023.
"The CDK cyber attack has thrown a monkey wrench into sales
during the second half of June, affecting what is arguably one
of the most lucrative and busiest times of the month and quarter
for dealerships," said Jessica Caldwell, head of insights at
Edmunds.
The CDK outage was the latest hiccup for automakers in the
United States, as more than 15,000 retail locations were relying
on the retail technology provider for their dealer management
software.
Hyundai said second-quarter U.S. sales rose by
nearly 2%, compared with a 14% jump last year.
Analysts, however, expect vehicle retailers and automakers
to recoup most of the lost sales in July.
Automakers have benefited from pent-up demand for SUVs,
pickup trucks and hybrid vehicles. Discounts on certain models
and incentives have also attracted price-conscious shoppers.
"New vehicle affordability concerns remain prevalent and
inventories are not expected to advance as strongly as they have
done over the past 12 months," said Chris Hopson, S&P Global
Mobility analyst.
Electric-vehicle leader Tesla reported a
smaller-than-expected 5% drop in vehicle deliveries in the
second quarter, after price cuts and incentives helped stimulate
demand.