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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.

Buick LaCrosse with eAssist priced at $30,820

The freshly stickered 2012 Buick LaCrosse with eAssist will start at $30,820, including destination costs, the brand said on Wednesday. Buick says the 2012 LaCrosse with eAssist is rated at 37 mpg in highway driving, a 25 percent improvement over the 2011 LaCrosse. The improvement comes from eAssist, a mild hybrid system that uses a belt-driven electric motor-generator and a lithium-ion battery pack.

Mercedes S-class Coupe concept (2013) at Frankfurt motor show

This is the new Mercedes S-class Coupe concept, revealed this morning at the 2013 Frankfurt motor show. And let’s kill two Mercedes S-class Coupe concept red herrings with one stone straight away. First off, don’t be thrown by the name: the S-class Coupe is indeed the replacement for the CL.