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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.

Renault to unveil Alpine-branded concept car at Monaco GP

Renault is set to unveil an Alpine-branded concept car at this weekend's Monaco Grand Prix. The A110-50 – so named to commemorate the fiftieth anniversary of the oh-so-pretty A110 rally car – is clearly a development of the 2010 DeZir concept car although with only one leaked image to analyze, it's difficult to know by what amount it has changed. Clearly it has been subjected to the addition of a myriad of additional details, surfaces, inlets, outlets and various pieces of racing addenda however that, on the little evidence we have, appear to have added drama to the detriment of the refreshingly non-aggressive nature of the DeZir.

Cadillac CTS Coupe launch to be delayed until summer 2010

One of Cadillac's most anticipated models is being delayed one year. The 2010 CTS coupe had been scheduled to go into production this summer. Instead, the car will go into production during the summer of 2010.