| UPDATED: 5/24/17 12:11 pm ET - adds details

CDK buys Auto/Mate in consolidation of DMS providers

Dealer software giant CDK Global has struck a deal to acquire Auto/Mate, a smaller rival in the dealership management system market

Geely will buy stakes in Malaysia's Proton, U.K. automaker Lotus

Chinese automaker Geely Holding, owner of Volvo, will buy a 49.9 percent stake in struggling Proton from Malaysian conglomerate DRB-Hicom. Geely will also acquire a 51 percent share in U.K. sports car company Lotus from Proton.

PSA's Tavares sees Opel racking up more losses in 2017

PSA CEO Carlos Tavares expects Opel to lose more money this year as it acquires the business from GM. However, the brand is recovering, Tavares said, highlighting growth in vehicle sales.

Sign up for our daily newsletter

We'll send you the top news of the day each weekday afternoon.