VW will reduce management ranks in cost-cutting move

The VW brand plans to thin out its management ranks using the same early-retirement schemes offered to rank-and-file workers.

GM cuts outlook for U.S. new-vehicle sales in 2017

GM now expects U.S. new-vehicle sales in 2017 will be in the "low 17 million" unit range, reflecting widespread expectations that industry volume is headed for a moderate downturn, as a flood of nearly-new used cars and light trucks hit the market.