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Ally Financial will offer buyouts to older staff within its Dealer Financial Services segment, and further workforce cuts might occur in November, Ally Financial Dealer Financial Services President Doug Timmerman has told staff.

An image of part of an Timmerman email describing the headcount plans in its auto lending business was posted Sept. 29 to the CarDealershipGuy LinkedIn page; Ally spokesperson Peter Gilchrist confirmed its accuracy to Automotive News. Gilchrist declined to share the full message.

“Despite a challenging macroenvironment, we remain relentlessly focused on serving our customers and all stakeholders by making the tough, yet necessary, decisions to guide our business into the future,” Gilchrist said in a statement. “After taking steps over the past year to pause hiring and manage staffing expenses through natural attrition, we have made the difficult choice to selectively reduce our work force. We are deeply committed to supporting those affected and are offering a robust severance package and career outplacement support.” read more

Daimler Truck said it achieved a milestone with its Mercedes-Benz hydrogen fuel cell truck — exacting 650 miles on just one tank of fuel.

The proposal by President Joe Biden’s administration to hike fuel economy standards through 2032 would cost General Motors $6.5 billion in fines and Stellantis $3 billion, according to a letter from the American Automotive Policy Council.

Formula One’s governing body on Monday backed a bid by American Michael Andretti, son of 1978 world champion Mario, to enter a new, 11th team subject to approval by the commercial rights holders.

Two weeks after Lithia Motors Inc. revealed its plans for Pendragon in the U.K., the auto retailer has updated its offer to pay significantly more cash for the business.