News - Auto News

Wells Fargo nears $1 billion settlement for auto loan, mortgage abuse

The agreement, expected on Friday, is expected to cite Wells Fargo's practice of forcing auto insurance on some customers who took out loans to buy new vehicles.

Daimler may buy tiny stake in Volvo, report says

Daimler is open to supplying Volvo with engines and could even take a small stake in the Swedish automaker, a German business magazine reported, raising the possibility of increased ties between Mercedes and Volvo's Chinese owner, Geely.

GM adds eBay CEO to board of directors

GM CEO Mary Barra said Devin Wenig will bring "significant expertise in technology, global operations and strategic planning" to the automaker's board.

PSA fight to slash Opel factory costs intensifies

PSA's fight to cut production costs at Opel's German factories took on a national dimension with Chancellor Angela Merkel intervening to say she expected the French automaker to honor commitments it made when it bought Opel from GM last year.

Tim Russi to leave Ally Financial

Tim Russi, the Ally Financial auto finance president who led many digital initiatives and helped expand the lender's dealership reach, is leaving the post, effective immediately.