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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.

Luxgen Luxgen7 MPV

Luxgen, Taiwan's first automotive brand, has revealed its first vehicle: the Luxgen7 MPV. With a more curvaceous aesthetic than what is typical of family haulers, the Luxgen7 MPV also features a high level of functionality across three rows of seats. Created under the direction of James Shyr, former Director of Design of GM's Global Design Leadership Team at PATAC, the new MPV has been specifically created not to look like a box.

Porsche Macan out playing in the desert ahead of an L.A. debut (video)

Porsche Macan (pictured) out playing in the desert ahead of an L.A. debut With Porche’s baby Cayenne – the new Porsche Macan – due to make its public debut in production guise at the Los Angeles Auto Show next month, Porsche has been busy building up interest in what should be their biggest seller in the years to come. There’s already a microsite for the Porsche Macan where Porsche has been busy teasing those who are interested with snippets of information and disguised photos, but now we get the Macan out frolicking on the sandy desert dunes in Dubai, the sort of video you’ll see from any car maker with a vehicle to show off that has off-road pretensions.