🔰 Do you think the CDK outage is just about cars and dealerships? Think again! 🔰 An insightful analysis from CNN has shed light on the massive impact a recent cyber attack on CDK Global has had on the automotive industry and beyond.
Full Article - https://cnn.it/3L2mWvr
🔍 What Happened?
CDK Global, a software provider critical to the operations of nearly 15,000 car dealerships in North America, was hit by a cyber attack on June 19.
🔗 Broader Implications:
The outage goes beyond dealerships and customers. The CDK incident could have a profound impact on the US economy.
In May, car dealerships accounted for $122 billion in transactions, representing 17% of all retail sales.
📉 Economic Consequences:
Russell Price, chief economist at Ameriprise Financial, warns that these disruptions could decrease retail sales by 2.3%.
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