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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.

General Motors is seeking 'motivating, inspirational' CEO, Whitacre says

General Motors Co.'s board is looking inside and outside the automaker for “a motivating, inspirational leader” to be its next chief executive, said Ed Whitacre, chairman and interim CEO. Whitacre said candidates don't need to be an existing CEO or even have strong auto credentials. But he would like a strong leader.

Beijing 2012: It’s a Breast Show with Cars

Li Ying Zhi(left) and Gan Lulu (right) - The Beijing Breast Show 2012 Chinese authorities have reprimanded the organisers of the Beijing Motor Show for the ‘Negative Social Impact’ of scantily dressed models. In the West we’re very used to scantily clad beauties selling everything from toothpaste to cars. Especially cars, and especially at Motor Shows.