HOUSTON, June 24,
2024 /PRNewswire/ -- Group 1 Automotive, Inc.
(NYSE: GPI) ("Group 1" or the "Company"), a Fortune 300
automotive retailer with 202 dealerships located in the U.S. and
U.K., today announced that the cybersecurity incident recently
experienced by third-party software provider, CDK Global LLC
("CDK"), has disrupted Group 1's business applications and
processes in its U.S. operations that rely on CDK's dealers'
systems.
In response, the Company immediately activated its cyber
incident response procedures and proactively took measures to
protect and isolate its systems from CDK's platform. Despite
the CDK service outage, all Group 1 U.S. dealerships continue to
conduct business using alternative processes until CDK's dealers'
systems are available. The Company's dealerships in the U.K.
do not use CDK's dealers' systems and are therefore not impacted by
the CDK service outage.
CDK has advised that it anticipates the restoration of the
dealer management system will require several days and not
weeks. The timing of the restoration of other impacted CDK
applications remains unclear at this time. Group 1's ability to
determine the material impact, if any, of the CDK incident and the
resulting service outage, will ultimately depend on a number of
factors, including when, and to what extent, the Company resumes
its access to CDK's dealers' systems. Group 1 is closely monitoring
this situation and will take additional action if determined
necessary.
"Our associates are coming together with an unwavering focus on
delivering the best possible customer experience. Their efforts
have been nothing short of exemplary. We'd like to thank our
team, our customers, and our partners for their patience as we
navigate this outage," said Daryl
Kenningham, Group 1's President and Chief Executive
Officer.
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 202 automotive dealerships,
264 franchises, and 42 collision centers in
the United States and the
United Kingdom that offer
35 brands of automobiles. Through its dealerships and
omni-channel platform, the Company sells new and used cars and
light trucks; arranges related vehicle financing; sells service and
insurance contracts; provides automotive maintenance and repair
services; and sells vehicle parts.
Group 1 discloses additional information about the Company,
its business, and its results of operations at www.group1corp.com,
www.group1auto.com, www.group1collision.com, www.acceleride.com,
www.facebook.com/group1auto, and
www.twitter.com/group1auto.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, which are statements related to future, not past, events
and are based on our current expectations and assumptions regarding
our business, the economy and other future conditions. These
statements address Group 1's expectations or beliefs regarding
future events, actions or performance, including the impact of the
CDK cybersecurity incident on Group 1, including its financial
condition and results of operations. Factors that could affect
future developments and performance include access to the CDK
platform, and CDK's ability to contain and remediate the
cybersecurity incident and other risk and factors contained in the
documents that Group 1 has filed with the Securities and Exchange
Commission.
Investor contacts:
Terry
Bratton
Manager, Investor Relations
Group 1 Automotive, Inc.
ir@group1auto.com
Media contacts:
Pete
DeLongchamps
Senior Vice President, Manufacturer Relations, Financial Services
and Public Affairs
Group 1 Automotive, Inc.
pdelongchamps@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223
cwoods@piercom.com
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SOURCE Group 1 Automotive, Inc.