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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.

Mercedes S 250 CDI BlueEFFICIENCY: Paris Motor Show 2010

Mercedes S250 CDI BlueEfficiency. Door graphics optional. It’s taken a while (or we’re just too good) for Mercedes to make reality our story that the world was going to get a four-pot S-Class – the Mercedes S 250 CDI BlueEFFICIENCY.

Asda sparks new fuel price cuts

SUPERMARKET Asda has sparked a likely petrol price war by announcing further cuts. Asda said that drivers filling up at its forecourts from tomorrow (Wednesday) will pay no more than 126.7p a litre for petrol, with diesel priced at 133.7p. Jeremy Walton, head of petrol trading at Asda, said: "Our shoppers don't have to figure out complicated deals and collect vouchers to get the best price; they simply pay what they see at the pump.