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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.

Volkswagen Passat CC (2008): first official pictures

By Ben Pulman First Official Pictures 13 January 2008 11:16 Welcome to the world’s second four-door coupe, the Passat CC. Following the lead of the Mercedes CLS, Volkswagen has redrawn the Passat to give us this swoopy mini-me Phaeton lookalike saloon. It's an attempt to stretch the Passat further upmarket - away from its humdrum fleet roots and nearer the hallowed doorway to the compact premium market.

Toyota NS4 concept car (2012) first official pictures

Toyota regularly shows hybrid concept cars at the Detroit auto show – and the 2012 NAIAS is no different. Problem is, we don't yet know much about their planned debut. Called the NS4, all we can see so far is this rather ludicrously cropped shot of the headlamp.