Bloomberg Intelligence
CDK Hack, Apple EU Warning
Jun 24, 2024
Experts like Steve Man and Tamlin Bason discuss EVs and Apple's EU warning. Loreen Gilbert shares market outlooks while Michael Halen gives insight on North America's restaurant industry. Mike Hyter talks about important issues faced by the Executive Leadership Council.
45:41
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Quick takeaways
- Ransomware attacks on CDK highlight the urgency for cyber security measures in the automotive industry.
- Luxury automakers face trade challenges due to China-EU tensions, emphasizing the importance of strategic trade agreements for market stability.
Deep dives
Diverse Impact of CDK Ransomware Attack on Car Dealerships
A cybercrime gang named Black Suit is blamed for major CDK ransomware attacks affecting 15,000 car dealerships across the US and Canada. This led to disruptions in crucial software systems, impacting functions like scheduling appointments and customer records. The attack resulted in delays in customer service and a reduced number of units sold per day, highlighting the urgent need for a quick resolution to restore normal operations.
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