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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.

UK to get dedicated Sky Sports Formula 1 Channel in 2012

Sky Sports F1 HD - a dedicated F1 Channel for the UK News Corporation has revealed that the UK will get a new dedicated Sky Sports Channel just for Formula 1 (F1) starting March 2012. It’s not exactly a huge surprise that Sky Sports is launching a new F1 Channel in 2012, perfectly timed to coincide with Sky’s takeover of Formula 1 Coverage from the BBC. The F1 HD Channel (as far as we know it will only be on HD – another reason to upgrade to Sky HD if you haven’t yet) intends churning out F1 content 365 days a year.

Ho Ho Horseless: California carriage club goes for a post-Christmas drive

WITH VIDEO -- It wouldn't be Christmas without the Horseless Carriage Club of Southern California's Holiday Motoring Excursion. Or at least, it wouldn't be the first Sunday after Christmas without it. For the last 55 years, the owners of pre-1916 automobiles have lined up somewhere in the greater Pasadena area and just driven around.