The settlement with the CFPB cites Wells Fargo's practice of forcing auto insurance on some customers who took out loans to buy new vehicles. Wells Fargo also will "remediate harmed consumers," the bureau said.
GM CEO Mary Barra said Devin Wenig will bring "significant expertise in technology, global operations and strategic planning" to the automaker's board.
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.
GM's Korean unit has warned that it would file for bankruptcy if there isn't a restructuring deal by Friday, as the operation is running out of cash to pay employees and suppliers amid slumping sales.
Wage talks between GM's South Korean unit and its labor union ended without an agreement on Thursday, a day before the deadline the company has set for filing for bankruptcy.
Johan de Nysschen unapologetically challenged leadership and the Cadillac team, while drawing the ire of many U.S. dealers with his ambitious -- and contentious -- Project Pinnacle plan to overhaul the brand and its retailers.
The European Commission won the power to fine automakers up to 30,000 euros ($37,131) per faulty car and order recalls as part of more centralized market oversight approved by EU lawmakers to prevent a repeat of VW's emissions scandal.
GKN's board has stepped down following the controversial takeover by investor group Melrose Industries, which has reportedly been waved through by the UK government, concluding that it raised no national security concerns (on the defence side of GKN's business).
Daimler is open to supplying Volvo with engines and could even take a small stake in the carmaker, Manager Magazin said, according to Reuters, suggesting increased cooperation between Mercedes-Benz and Geely.
Toyota Motor will unveil its first plug-in hybrid Corolla sedan and Levin compact car in China at the Beijing motor show, which opens on 25 April in Beijing.
Daimler is open to supplying Volvo with engines and could even take a small stake in the Swedish automaker, a report said, raising the possibility of increased cooperation between Mercedes and Volvo's China owner Geely.
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.
The European carmakers' association, ACEA, has warned that the new emissions testing standard for vehicles, WLTP, could create issues for taxation as vehicles' fuel efficiency or CO2 emissions measure changes from those under the previous NEDC testing standard.
Turkey's Investment Support and Promotion Agency says it is looking to showcase the country's flagship auto sector, stressing its 600-year history with Europe and its long relationship with Western countries
Federal-Mogul Powertrain has announced the first commercial customer contract for its new product group Controlled Power Technologies (CPT). The long-term contract, worth around US$100m, covers the development and series production of advanced starter-generator systems for an OEM.
Some Opel plants in Germany cost twice as much to run as PSA Group's other factories, Opel's chief executive reportedly told employees.
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.
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.
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19 Apr, 2018
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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