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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.

Lamborghini Gallardo replacement named Huracan

A Lamborghini source has apparently revealed that the Italian supercar firm’s replacement for the Gallardo – due next in 2014 – will be called the Huracan. The insider let slip to Auto Express that the new V10-powered supercar will be called Huracan, which is Spanish for hurricane. This is in contrast to earlier reports that suggested the Gallardo replacement would be called the Cabrera.

Audi S8 (2011) Confirmed – Audi S7 and Audi S1 planned

Audi has confirmed the 2011 S8 and an S1 and S7 The ink has just dried on our report on the new 2011 Audi A8 (well, you know what I mean) when we got news that Audi are going to produce an Audi S8 , despite earlier reports that there would be no S8 for the 2011 model, or even the W12 A8. But it doesn’t stop there. In an unguarded moment Audi’s Design Director Stefan Sielaff said that the ‘Design Grammar’ of the A8 would extend in to the S8, the S7 and the S1.