CDK Global fix in the works, robotaxi investment ramps up, summer gas price trends

Hey everyone. Big news — I’m going to be live streaming a panel on X / Twitter at 4 p.m. EDT today. The goal? Share practical and actionable insights into the CDK outage, where we’re at, and what might be next.

Panel experts will include impacted dealers, industry CEOs as well as cybersecurity, compliance, and regulatory specialists. RSVP for free here!

— CDG

1. CDK Global DMS restoration likely days away, not weeks

As dealers enter the sixth day of severe system outages from software provider CDK Global, restoration efforts have begun, but sources tell CDG News dealers won’t see any changes today. 

The good news: CDK says that restoration will take days to complete, but declined to provide an exact date. "We are continuing to actively engage with our customers and provide them with alternate ways to conduct business," CDK said in an emailed statement sent on June 23 … Read More

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2. Automakers investing more in robotaxis as expenses pile up

General Motors’ robotaxi subsidiary Cruise continues to face fallout from a late-2023 accident. But despite the broader disillusionment with self-driving cars, automakers are spending more money than ever on the emerging sector.

What this means: Automakers remain confident that self-driving vehicles are the future of transportation, but the road to making this technology commonplace is only getting more convoluted and expensive … Read More

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3. Gas prices break summer patterns: what that means for car demand

Unusually stable summer gas prices reflect an ongoing shift to affordable transportation among consumers, creating opportunities for dealers with fuel-efficient inventory.

By the numbers: According to federal data, gas prices this month are lower on both a year-over-year and month-over-month basis. Last week, the average price for a gallon of gas was $3.45, with a low of $2.93 spotted in Mississippi and a high of $4.81 seen in California ... Read More

• China wants the European Commission to drop its tariff decision by July 4 and adhere to WTO rules, Global Times reported.

• Stellantis’ vice president for artificial intelligence, algorithms and machine learning is the latest executive to depart the company.

• Auto industry future lies in software, electrification and recycling, EY research finds.

• After BYD’s aggressive price cuts this year, Nissan is shutting down a factory in China as it struggles to keep up.

• Profitability among electric vehicles is still a ways off and it may take another four or five years before this can be achieved, experts warn.

Thanks for reading everyone.

— CDG