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Hackers pose threat to automotive revolution

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Cannabis: Hashing Out a Budding Industry

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IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

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Hackers pose threat to automotive revolution

The automotive industry's history is rooted in manufacturing expertise, but its future has technology and software at its core. This was in evidence at the CES show last week where Sony unveiled a concept car featuring its sensor and audio technology, and chipmaker Qualcomm announced its Snapdragon Ride autonomous driving platform, which will take on similar offerings from rivals Intel and NVIDIA.

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This shift also brings with it a new wave of operational challenges, chief among which is cybersecurity. As our article this week explores, over-the-air updates — through which nonessential upgrades can be made to vehicles without going to a dealership — present an opportunity for attackers to breach systems. Though no major incidents have been reported by auto companies, there is a risk that hackers could gain access to tire pressure gauges, change GPS signals or even take control of the vehicle.

Uptake of over-the-air updates has been relatively slow, in large part due to the security concerns. Tesla has been the main user, but Ford and General Motors both plan to roll out wireless updates in the coming year.

Over-the-air updates could ultimately save costs for automakers and drivers alike. But without adequate defenses against malicious attacks, they could also be a major risk factor for car manufacturers.

Consumer Edge is a weekly collection of critical developments across the automotive; retail; and food, beverage, and tobacco industries. Drawing on exclusive analysis and value-added content from the Consumer News team at S&P Global Market Intelligence, it is published every Thursday. Click here to subscribe.

Chart of the week

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Automotive

Fugitive Ghosn slams Nissan, Japan officials, says he is willing to stand trial

The former head of Nissan and Renault spoke at a press conference in Lebanon for the first time since absconding from Japan while awaiting trial for financial misconduct.

Wireless vehicle updates pose big cybersecurity risk for automakers, consumers

Hackers could steal consumers' data or cause gridlock and crashes by compromising a connected car.

Tesla doubles down on China with Model Y SUV production

Having just delivered the first China-made Model 3s in Shanghai, Tesla is seeking to gain a major share of the world's largest electric vehicle market.

US auto sales decline 1.4% in 2019; car sales plummet as trucks, SUVs gain

Major U.S. automakers, including General Motors, Ford Motor and Fiat Chrysler, posted a year-over-year decline in auto sales for the period.

CES 2020: Qualcomm spotlights new 5G laptop, autonomous driving platform

Qualcomm unveiled a new 5G computer and an autonomous driving platform at its press conference at CES 2020.

CES 2020: Sony surprises with connected car prototype

During its CES 2020 press conference, Sony unveiled a car prototype and said it will continue to invest in autonomous vehicle technology. It also revealed the latest sales figures for the PlayStation 4 gaming console.

Retail

Walgreens Q1'20 prescription growth falters

Executives during a Jan. 8 call also pointed to progress in the first year of a partnership with Kroger.

Shopping centers to be 'radically different' in 5 years, says Intu CEO

Retail space will make way for more leisure, food and beverage, and space will also be used for offices and residential, Matthew Roberts said.

Kohl's investing in beauty products, seeing growth, says retailer's CEO

The department store will share more on its plans at a March investor conference, CEO Michelle Gass said at the NRF conference in New York.

Macy's to close 30 locations in early 2020; REITs have limited exposure

While Macy's is waiting until its Feb. 5 Investor Day to release its growth strategy and three-year plan, a list of 30 properties have circulated the media as slated for closure in early 2020.

Food, Beverage & Tobacco

US wine merchants, advocates decry proposed tariffs on $2.4B in French goods

Several wine importers, producers and retailers testified in opposition to the U.S. proposal to implement tariffs on $2.4 billion of French goods, saying the adoption of the higher duties will decimate their industry.

Canadian cannabis companies report QOQ drop in sales to recreational market

Share prices for the largest cannabis producers in Canada dropped in 2019 as the companies continued to struggle with profitability.

S&P 500 Consumer Staples and Discretionary indices

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