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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.

Infiniti JX concept

The Infiniti JX crossover concept has been unveiled at the 2011 Pebble Beach Concours d'Elegance. The concept serves as a preview of a new seven-passenger luxury crossover that is due to join the Infiniti range in spring 2012. Infiniti senior vice president and chief creative officer Shiro Nakamura says, "The JX Concept advances the Infiniti design language, sharing design cues of the Infiniti Essence concept, yet interprets those elements in ways suitable to the needs of a family luxury crossover.

1964 Mercury Comet with half a million miles is retired—what next?

By now you've probably heard about Rachel Veitch's 1964 Mercury Comet Caliente. She purchased the car new and has cared for it meticulously since. As of last week, the odometer tallied more than 576,000 miles.