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News watch June 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 June 2010• Tesla shares have rocketed 40% on their first day of trading; the company went public this week with the first IPO of an American car company since Ford in the 1950s (BBC News)• GM may sell off its interests in finance arm GMAC and parts supplier Delphi as it seeks to write down its debts (Financial Times)• A Federal judge has approved the $20m sale of a former GM plant in Wilmington to Fisker Automotive; Fisker hopes to build 100,000 cars a year once production hits a peak after launch in 2012. It is using a $529m government loan to fund its launch (Detroit News)Tuesday 29 June 2010• UK business secretary Vince Cable has warned that the car industry is no longer in an emergency – and cannot expect direct government support.

Jeep Wrangler JK production tops one million

Never mind persistent economic uncertainty and unstable fuel costs, Americans love Jeeps. Compared to nearly anything else on the road, they're far too brash and noisy for anyone to want for daily use, and the majority of Wrangler owners never push 'em anywhere near their limit. But none of that seems to stop us from snatching Wranglers up off dealer lots as quickly as the folks at Jeep's Toledo, Ohio, assembly plant can bolt them together.

Realization of a Dream - Inside Project M

The appeal of social media is growing rapidly for the auto industry. Sites such as Twitter, YouTube and Facebook give brands the chance to communicate in a much more direct manner than mainstream advertising allows. In the best cases these new forms of media are helping brands, and the individuals who work for them, to build relationships and open dialogue with existing customers and potential future ones.