Sonic Automotive Reports Cybersecurity Incident Impacting Dealer Management And CRM Systems; Basic DMS Functionality Restored, Other Systems Remain Offline; Incident Likely To Adversely Impact Q2 2024 Earnings Due To Slower Vehicle Sales
Portfolio Pulse from Benzinga Newsdesk
Sonic Automotive (SAH) has reported a cybersecurity incident affecting its dealer management and CRM systems. While basic DMS functionality has been restored, other systems remain offline. The incident is expected to negatively impact Q2 2024 earnings due to slower vehicle sales.
July 05, 2024 | 8:05 pm
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Sonic Automotive (SAH) has experienced a cybersecurity incident that has disrupted its dealer management and CRM systems. Although basic DMS functionality has been restored, other systems are still offline. This disruption is likely to negatively impact Q2 2024 earnings due to slower vehicle sales.
The cybersecurity incident has disrupted key operational systems at Sonic Automotive, which is expected to slow down vehicle sales. This will likely result in lower earnings for Q2 2024, making the short-term outlook for SAH stock negative.
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