China's automobile sales fell about 14 percent in November from a year earlier. It was the steepest decline since January 2012, when the timing of the Lunar New Year holiday hurt auto sales.
Starboard Value is calling on Cars.com to improve its performance or consider selling itself or making management changes, about nine months after the activist hedge fund reached a settlement agreement with the online auto-dealing platform.
China is moving toward cutting its trade-war tariffs on imported U.S.-made cars, a step already brandished by President Donald Trump as a concession won during trade talks in Argentina.
Alejandro Vukotich will replace Elmar Frickenstein, who has been in charge of the department since it was created in May 2016 and who will retire after a three-month handover phase in March.
"We set another important milestone for the electrification of our future electric vehicles," Wilko Stark, who oversees procurement and supplier quality on the board of Mercedes-Benz Cars, said.
