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Weekly roundup: CDK Global makes progress following cyberattack, Tesla sees B2B quarterly decline in deliveries

Earlier this week: CDK Global made significant strides in its cyberattack recovery efforts. Tesla posts two consecutive quarters of reduced deliveries for first time. Supreme Court decision threatens Biden’s vehicle emissions cut efforts. Ford CEO Jim Farley urges shift to smaller, affordable EVs for future profitability. General Motors (GM) has been levied with a $145.8 million penalty following a comprehensive government investigation that discovered excess emissions in millions of vehicles.

Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.

1. CDK Global progresses cyberattack recovery with key dealers back online
CDK Global made significant strides in its cyberattack recovery efforts, bringing a second small group of dealer customers and a major public dealership group back online on June 27. The company is adopting a phased approach to restore its systems, ensuring gradual and secure reintegration. Read More

2. Tesla faces first back-to-back quarterly decline in deliveries
Tesla’s vehicle deliveries for the June quarter are expected to decline by 3.7%, marking the first time the top EV maker posts two consecutive quarters of reduced deliveries. This drop comes as Tesla grapples with fierce competition in China and sluggish demand driven by a lack of affordable new models. Analysts forecast Tesla will deliver 438,019 vehicles for the April to June period, according to an average estimate from 12 analysts polled by the London Stock Exchange Group (LSEG), with seven of them lowering their expectations in the past three months. The results are anticipated to be announced on Tuesday. Read More

3. CDK Global promises full restoration of services after cyberattacks
CDK Global announced that its services should be fully operational by Thursday, following two cyberattacks on June 19. These attacks forced many dealers to revert to manual processes, severely impacting their operations and resulting in estimated revenue losses of millions of dollars. Read More

4. Supreme Court decision threatens Biden’s vehicle emissions cut efforts
According to two environmental law attorneys, a recent U.S. Supreme Court ruling limiting federal regulatory powers could significantly hinder President Joe Biden’s initiative to reduce tailpipe emissions from the nation’s vehicle fleet. The justices ruled 6-3 to overturn the 1984 “Chevron deference” precedent, which required judges to defer to reasonable federal agency interpretations of ambiguous U.S. laws, such as the Clean Air Act. Read More

5. Ford CEO Jim Farley Urges Shift to Smaller, Affordable EVs for Future Profitability
At the Aspen Ideas Festival, Ford CEO Jim Farley underscored the need for the U.S. auto industry to pivot towards smaller, more affordable electric vehicles (EVs), a significant departure from the large SUVs and trucks that Ford has become notable for building. Farley’s announcement marks a strategic shift aimed at producing a profitable $30,000 all-electric vehicle designed by a specialized team in California. Read More

6. General Motors to Pay $145.8 Million Penalty for Excess Emissions in 5.9 Million Vehicles
In a significant regulatory crackdown, General Motors (GM) has been levied with a $145.8 million penalty following a comprehensive government investigation that discovered excess emissions in approximately 5.9 million of its vehicles. Read More

7. Don Hall on industry challenges and regulatory hurdles
On today’s Inside Automotive episode, we sit down with Don Hall, the dynamic President and CEO of the Virginia Automobile Dealers Association. Known for his forthright approach and deep industry insights, Don tackles some of the most pressing issues facing auto dealers today. From the challenges of EV adoption and stringent CARB regulations to the economic pressures of rising interest rates and inflation, Hall sheds light on the hurdles and opportunities within the automotive landscape. Watch Now

8. Why dealers must prioritize compliance and cybersecurity to mitigate risks of identity theft – Scott Hudson & Jim Ganther
In our previous interview, as part of our 3-part series with Aura, an online safety solution helping to detect and mitigate emerging online threats, and Mosaic Compliance Services, a leading provider of compliance solutions for dealers, we discussed identity theft and fraud. In this second segment of Driving Solutions, we’re discussing legislation and compliance. We’re pleased to welcome back Scott Hudson, SVP of Partnerships for Aura, and Jim Ganther, Co-founder and CEO of Mosaic Compliance Services. Watch Now

9. How retained earnings are driving the automotive buy/sell market – Ryan Kerrigan | Kerrigan Advisors
On today’s episode of Inside Automotive, we’re diving into the red-hot automotive buy/sell market with Ryan Kerrigan, Managing Director of Kerrigan Advisors. With projections showing potential for over 400 transactions this year, breaking all previous records, it’s clear that despite some dips in profit margins, the industry is alive with activity and investment. Join us as we explore the factors driving this unprecedented surge and what it means for dealerships nationwide. Watch Now

10. David Spisak warns of long-term impacts following CDK cyberattack
In the midst of the whirlwind of challenges facing automotive dealerships nationwide, a recent event has sent shockwaves through the industry: the CDK cyber attack. Industry leaders like David Spisak, CEO of Disruptive Growth Solutions, are offering crucial insights. In an exclusive interview with CBT News, Spisak sheds light on the immediate impacts, long-term repercussions, and the imperative need for enhanced cybersecurity measures. Watch Now

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CBT News
For over 11 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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