Stellantis Chairman John Elkann described current auto industry conditions as "extreme" and called for the U.S. and Europe to take urgent action to ensure an "orderly transition," with their combined markets set to be overtaken for the first time by China.

Stellantis has reduced its shortlist of CEO candidates to five as it nears a decision on who will lead the company through one of the industry’s most tumultuous periods.

Investors had pushed back against the pay proposal, saying it was undeserved after a year in which Stellantis lost sales and market share, and bled billions in cash.

The automaker has short-listed two internal candidates and has also interviewed three external candidates, people familiar with the matter said.

Stellantis launched a recall campaign for Takata airbags affecting hundreds of thousands of Citroen C3 and DS 3 models made between 2009 and 2019.

President Donald Trump said he is exploring possible exemptions to his tariffs on imported vehicles and parts to give auto companies more time to set up U.S. manufacturing.

Roy Sjoberg, the first chief engineer of the Dodge Viper, built the team that built the V-10 sports car that helped turn Chrysler around in the 1990s.

A quick look at the week's top stories as determined by reader interest.