CDK outage forecast to slow auto sales by 7.2% in June, pushing demand into July.
The CDK Global cyberattack is expected to cut auto dealerships' vehicle sales in June down by about 100,000, or more than 7%, compared with the same period in 2023. The projected decrease is not reflective of weak demand, but rather the anticipated consequence of some dealerships' reliance on CDK sales software for transactions.
The average transaction price for new vehicles is $45,000, meaning the hit to dealerships could be substantial in dollar terms. Some car sales lost in June could occur in July, if CDK systems are restored by then. 'Because of the disruption to dealer software systems, June sales will not be reflective of actual consumer demand for new vehicles,' Thomas King, president of the data and analytics division at J.D. Power, said in a statement.
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