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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.

Up in smoke: Smokey Yunick's garage burns

Legendary NASCAR mechanic Smokey Yunick closed the "Best Damn Garage In Town" long before he died in 2001. But the main concrete-block, tin-roofed building on Beach Street in Daytona Beach, Fla., remained a stop on the NASCAR history trail for visiting faithful until Monday night, when fire destroyed the building. The building housed Yunick's office and a medium-size garage and more recently served as office space for Carbon Press, the publishing company that Yunick's daughter, Trish, operates and which produces products that include Yunick's salty 1,100-page autobiography and biographies of other racing personalities.

GM opens on Ebay

GM launches on Ebay today But GM is back as ‘New GM’, thanks to the US taxpayer. With a clean sheet and a desire to prove it’s fit to be a 21st century car maker, and is looking for new ways to shift its metal. And it’s decided that the world’s biggest boot sale is the way to go.