‘Years To Correct’: Auto Dealers Continue To Face Negative Impact From Ransomware Attack

Since a cyberattack paralyzed 15,000 auto dealerships nationwide last week, a clearer understanding of the damage has emerged. Several of the largest US dealers are now detailing the potential "material" impact on their finances in regulatory filings since their backend operating systems, managed by CDK Global, went down early last week.

Bloomberg reports Sonic Automotive Group, Group 1 Automotive, AutoNation, Lithia Motors, and Asbury Automotive Group have filed disclosures with the US Securities and Exchange Commission in recent days, specifying that their backend management systems, powered by CDK, have been disrupted since the cyber incident, negatively impacting ...