Cyberattack hampers June sales, car models being discontinued, GM's EV targets in doubt

Hey everyone. Want to workout while you drive your car? Well…soon you might be able to. Toyota is developing new seat technology that uses subtle movements to keep your core muscles engaged — like a hidden balance ball. Sounds a little weird…but I’m really curious to check it out one day.

— CDG

1. Car sales take a hit from CDK outages, rebound expected in July

The full dealership impact of the CDK Global DMS hack in the latter half of June is starting to take shape. 

Despite the chaos, new car affordability saw some improvement year-over-year. However, the attack muddied the waters for used car sales data, masking what might have been a strong month. Analysts predict a July rebound, but dealerships face a daunting task: recouping an estimated $1 billion in lost sales … Read more

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2. Trimming down: Discontinued cars that won't last beyond 2025

From muscle cars to family favorites, several car models are saying goodbye in 2024 and 2025. But why are these vehicles being discontinued? Is it a sign of changing consumer tastes, or something else entirely? … Read more

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3. Fate of GM's 1 million EV production target now uncertain

New comments from General Motors CEO Mary Barra cast doubt on the company’s plans to reach an EV manufacturing capacity of 1 million units by 2025, despite making aggressive production expansions over the last two years.

Why this matters: GM is only the latest in a series of automakers being forced to reset expectations after implementing optimistic electrification targets early on … Read more

• China asks the WTO to set up a panel for the U.S. electric vehicle subsidies dispute.

• CDK cyberattack will reduce AutoNation’s Q2 2024 earnings by $1.50 per share.

• Porsche adds new RWD and 4S variants, off-road package to its electric Macan lineup.

• Genesis Is working on a brand-new EV-only architecture.

• Move over, Michigan: Georgia now leads in building next-generation cars.

Thanks for reading everyone.

— CDG