SEE SUMMARY
A cyber attack on CDK Global, a North American software provider for dealerships, has prompted JD Power to warn that US auto sales will fall 7% in June compared to the same month last year. New vehicle sales are expected to decline by between 2.6% and 7.2%, affecting more than 1.2 million units. The cyber attack forced manual transactions, impacting the ability to reflect actual demand. JD Power president Thomas King highlighted the uncertainty over the normalisation of systems as vehicle prices fall and manufacturer incentives increase to boost sales.
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A computer attack that affects a large number of dealerships in North America will cause a drop in car sales in June USA of up to 7% compared to those of the same month of 2023, the JD Power firm warned this Wednesday.
JD Power stated that new vehicle sales will be between 1,273,600 and 1,336,800, respectively 2.6 and 7.2% less than a year ago.
The cyberattack on CDK Global, which provides software to thousands of car dealers in North America for the sale, financing and repair of vehicles, has forced many to have to carry out transactions manually.
JD Power said in a statement that the problems caused by the computer attack mean that sales do not reflect “real demand” for new vehicles.
“A significant number of sales that should have occurred in June will occur in July. Although there is a considerable uncertainty As for when these systems will return to normal, total June sales will be between 1.33 and 1.27 million units,” said Thomas King, president of JD Power’s analytics division.
King called the effect of the attack “significant.”
The data also indicates that vehicle prices are declining compared to a year ago while manufacturers’ incentives for individuals to sell cars are increasing.
Unit profit is estimated to fall in June to $2,407, down 32% from a year ago, while incentives have risen 51.2% to $2,625.
