bauaelectric (Global EV News)’s Post

CDK cyberattack shuts down auto dealerships across the U.S. preventing about 15,000 car dealerships from making sales: https://lnkd.in/gVj65_8s #CDK #cyberattack #auto

For anyone on the edge of buying a new car, you might want to put that on pause for a bit.... #CDKGlobal, a company that provides #software for thousands of #autodealers in the #US and #Canada, was hit by #backtoback #cyberattacks on #Wednesday. That led to an outage that continued to impact many of their operations on Friday. For prospective car buyers, that may mean #delays at #dealerships or #vehicle #orders written up by hand, with no immediate end in sight. The article gets into detail on what one needs to know. https://lnkd.in/gQVpA_76

For anyone on the edge of buying a new car, you might want to put that on pause for a bit.... #CDKGlobal, a company that provides #software for thousands of #autodealers in the #US and #Canada, was hit by #backtoback #cyberattacks on #Wednesday. That led to an outage that continued to impact many of their operations on Friday. For prospective car buyers, that may mean #delays at #dealerships or #vehicle #orders written up by hand, with no immediate end in sight. The article gets into detail on what one needs to know. https://lnkd.in/edXpik_j

This is the last thing automotive dealerships need right now. -------- "If you were thinking about buying a new car or taking your car to be serviced at the dealership this weekend, expect the long, painful process that you expect to experience to be much longer and more unbearable. An extensive cyberattack is affecting a major supplier of the software auto dealerships in the U.S. and Canada use every day." ...... "According to the Wall Street Journal and Automotive News, a major cyberattack is affecting the day-to-day operations of more than 15,000 auto dealerships. Software establishing the backbone of their operations has been out for multiple days. " ------ In another thread, Reddit user and Subaru Senior Master Technician u/Chippy569 said that without CDK, there is "no idea how we're going to get paid," adding that the process of requesting and acquiring parts for repairing or maintaining cars "is an absolute clusterf--k." https://lnkd.in/gn82BTi4

I had a great conversation with Kaitlyn Luckoff at Automotive News about KPA's Dealership Trust Survey. KPA's survey found a gap between the perception and reality of car buying: few Americans experience dishonest selling at car dealerships, but most Americans still distrust them. KPA helps over 15,000 auto dealers across the country build a culture of trust and compliance to earn car buyers' dollars, and prepare for the upcoming CARS Rule. Read Kaitlyn's story to learn more about our survey and what it means for auto dealers & their customers. #autodealers https://lnkd.in/ez-CRuWD

Auto Retailers Force FTC to Postpone "CARS" Rule Implementation https://bit.ly/49dEgrK #glenviewfinance #subprimefinance #usedcardealer #autofinance #creditbuilder #independentdealer

#MobilityMonday: Consumer protection CARS Rule put on hold, the latest in a string of pushbacks against Big Auto Originally slated to go into effect tomorrow — July 30 — the Combating Auto Retail Scams (CARS) Rule is a framework put in place on Dec. 12, 2023, by the Federal Trade Commission (FTC) to ensure more transparency in the car buying and leasing process. On Jan. 4, the rule was iced following judicial challenges by the National Automobile Dealers Association (NADA) and the Texas Automobile Dealers Association. In April, more than 100 national and state consumer protection organizations, led by the Consumer Federation of America, sent a letter to Congress in support of upholding the CARS Rule (see https://bit.ly/3StQ573). Buying a car is stressful enough as is. Add in shady salesmanship practices trying to extract as much cash as possible from uninformed buyers, and you get a classic example of the Lemons Problem: information asymmetry between the buyer and seller of a product (see https://lnkd.in/dQKnyxJC). The CARS Rule is meant to outlaw some of the most dubious tactics, such as selling redundant warranties, misrepresenting financing options, and banning the monetization of add-ins that provide no value. Under the rule, dealers would be required to tell you the true “drive-off-the-lot price” for the vehicle. But the CARS Rule is only one example among a string of regulatory and judicial pushbacks to the automotive retail industry’s immense power, or as some might argue, stranglehold. Last week, a judge certified an antitrust class action lawsuit against CDK Global, the leading auto dealer software (see https://reut.rs/4fr0kTh). Vendors that create apps for inventory management, repair orders, warranty services and other functions for dealer management systems like CDK are seeking nearly $400M in damages. This comes a month after CDK was downed by a cyberattack impacting 15k dealerships across North America, costing almost $1B in economic losses (see https://lnkd.in/dGKM4K_2). On Friday, two US senators called on the FTC to investigate automotive OEMs for deceptively selling vehicle data (see https://bit.ly/4fmOp90). The complaint alleges that OEMs used deceptive tactics to manipulate customers into allowing their vehicle data to be sold to data brokers. All this for fairly meager sums, with Hyundai Motor Company (현대자동차) allegedly selling data from 1.7M vehicles for $1M and Honda from 97k vehicles for a grand sum of $26k. What’s clear is that trust between consumers and the automotive industry is close to rock bottom, a trendline that doesn’t bode well as the information asymmetry introduced by EVs continues to upend the car purchasing experience and associated considerations, as well as the entire aftermarket value chain. #automotive #cars #retail #dealerships #NADA #FTC #consumers #CDK #Hyundai #Honda

It’s hard to believe that in one of the worlds largest car markets that electronic vehicle titles is news. There are so many opportunities for digitalisation and innovation in the US car market. It’s an exciting time to be in the market. #dealerprofit #innovation

The pen is mightier than the sword, and can push back against a cyberattack in the car dealership world. Auto dealerships are still reeling from a cyberattack on niche industry software, that supports day-to-day operations, paralyzing auto dealers. As a result, many companies are turning to “old school” strategies. For example, they’re manually taking orders and writing them up by hand. But this may also impact customers whose data could’ve been compromised in the attack, a hot-button issue that’s been top of mind lately. It’s another reminder that cutting edge technology that makes our everyday tasks easier also comes with ample risk. It also seems to suggest that whenever we think we’ll see a reprieve in the work of auto, another calamity comes around the corner. https://lnkd.in/gZnRwqD8 #cyberattack #databreach #auto #autocyberattack #autosales

A Gentle Reminder to Car Dealers: Don't Let Number Plates Become Your Oversight In the meticulous world of car sales, every detail counts – from the gleam on the bonnet to the tread on the tyres. Car dealers, renowned for their keen eye for detail and unwavering commitment to customer safety, understand the importance of delivering vehicles in pristine condition. However, there's an often overlooked aspect that deserves equal attention: the legality and quality of number plates. Just as a bald tyre would never make it past your rigorous pre-sale checks due to its safety implications and legal ramifications, so too should the standards for number plates be equally stringent. An illegal or improperly formatted number plate is not just a minor oversight; it's a potential legal headache for your customer, leading to fines and points on their license. And when customers face such issues, the first point of their frustration will be the dealership that overlooked this crucial detail. This neglect towards the number plate service doesn't just risk legal issues; it suggests that your dealership might be missing out on the opportunity to provide the best service or value possible. In today's competitive market, the difference lies in the details. Ensuring that every aspect of the vehicle, including the number plate, meets legal standards and customer expectations is what sets the best dealerships apart. Car dealers, it's time to elevate the importance of number plate compliance in your operations. By doing so, you not only protect your customers from potential fines and legal trouble but also enhance the overall value and service quality of your dealership. The right number plate service ensures compliance, showcases your attention to detail, and reinforces the trust your customers place in you. Let's not allow number plates to be the bottom of the pile any longer. Instead, let's ensure they are treated with the same care and attention as every other aspect of the vehicles we take pride in selling. After all, in the world of car sales, reputation and customer satisfaction are everything. #AutomotiveIndustry #CarDealers #CustomerService #LegalCompliance #NumberPlates #AttentionToDetail