CDK, Hyundai, and Tariffs.
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CDK Global Begins System Restoration

CDK Global is restoring systems after cyberattacks disrupted operations at over 15,000 car dealerships since June 19. The restoration is expected to take several days.

  • Ransomware Negotiations
    • CDK is negotiating with the BlackSuit ransomware group, which demanded a multimillion-dollar ransom to stop the attacks.

Nissan's Chinese Market Battle

Nissan reported a 16% drop in Chinese sales last year and an additional 2.8% drop last month. For those keeping score, that's down 18.8% year over year.

BYD is gaining all the sales Nissan is losing as it uses aggressive pricing to dominate its home and global markets. It is hard to beat a sub-$10K EV, and BYD's Seagull EV is almost singularly occurring in that market.

Due to low sales, Nissan is shutting down its Changzhou plant, which accounts for 8% of its production capacity in China. Toyota, Mitsubishi, and Honda have also pulled back in the Chinese market amid slumping sales.

Hyundai Motor Union Strikes

Hyundai Motor's union in South Korea has voted for potential strike action after stalled negotiations over wages and retirement age.

  • Strike Details
    • Nearly 90% of the 43,000-member union supported the strike.
    • This would be Hyundai's first strike in six years.
  • Union Demands
    • The union seeks a pay increase, performance pay, and an extended retirement age.
  • Company Response
    • Hyundai Motor has declined to comment, but negotiations may continue.

China-EU Tensions Over EV Tariffs

Tariffs again? What's going on now?
China is urging the EU to revoke its decision to impose provisional tariffs of up to 38.1% on Chinese EV imports, set to take effect by July 4.

They didn't seem worried before; what's going on now?
The EU's anti-subsidy investigation into Chinese EVs claims China violates WTO rules. Over the past decade, China has invested over $230 billion in its EV industry, representing 18.8% of total electric car sales between 2009 and 2023.

What does it mean?
If China loses EU support, it could dramatically change the global auto landscape, especially regarding EVs.

Of course, nobody expects China to take this one lying down. Countermeasures, like those China implemented in response to the US 100% tariffs on some Chinese products, are sure to follow, essentially shaking up the whole global economy, not just the auto market.


What aspect of the automotive world do you want to hear about next?

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