Today, change in the automotive industry is driven by technology. Automakers and parts manufacturers have shifted their engineering focus to connectivity, becoming more strategic with key technology investments.
However, automotive companies still fall behind other industries in terms of digital maturity and are struggling to move forward with a digital transformation plan. In a recent Gartner survey, 71% of automotive CIOs indicate they are most likely to increase investments in cyber and information security in 2021 compared to 2020. This sweeping response follows an uptick in ransomware attacks, especially headlines including legacy automotive companies.
Automotive manufacturers are currently dealing with a serious shortage of semiconductors, affecting leading organizations such as Toyota, Ford Motor, Volkswagen and Honda. Production has been forced to halt in recent weeks, interrupting supply chain logistics, hiking market prices and causing a destructive bottleneck of inventory. While the recent focus has centred around physical operations, hackers have not lost sight of additional opportunities to disrupt the automotive sector.
Ransomware attackers can shut down entire manufacturing supply chains. Earlier this year, Kia Motors was hit with a significant ransomware demand, impacting operations for weeks.
Losing control over data can have dire consequences for an automotive company. The diminished trust of consumers, lawsuits, intellectual property theft, and market delays due to cyber attacks all have real-world financial impacts.
In this report, Black Kite researchers analysed the cybersecurity posture and ransomware susceptibility for the top 100 automotive manufacturers and the top 100 automotive suppliers. Researchers conducted a detailed study around the automotive supply chains to identify the most common security issues, as well as the likelihood of a ransomware attack.
Key Report Findings:
- Nearly half of the top 100 automotive manufacturers are highly susceptible to a ransomware attack
- More than 17% of automotive suppliers are likely to incur a ransomware attack
- Patch management Is the most prevalent vulnerability for automotive companies, with 71% having “F” or “poor” ratings
- 71% of automotive CIOs indicate they are most likely to increase investments in Cyber and Information security in 2021
Download The Report Now
Download the full Ransomware Risk Report and gain some key insight and recommendations to improve the security posture of your third-party ecosystem and supply chain.
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About Black Kite
Black Kite is the only cyber risk rating platform focused on alerting your business to third-party risks. Built on the latest cloud technology to automate scalability, risk assessment times are reduced from weeks to hours. In addition to an easy-to-understand letter grade rating system, Black Kite is the only SRS tool to quantify risk using Open FAIR, communicating risk in business terms executives understand. Unlike other cyber rating products, there’s no “secret sauce.” Every third-party cyber risk assessment is standards-based and fully transparent so that all users not only trust their data, but they know how to manage it. Every day Black Kite pushes towards one common mission: to build the most trustworthy cyber rating system in the world.