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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.

Michelin Challenge Design announces pre-registration for 2011 Program

Michelin Challenge Design (MCD) is pleased to announce the 2011 Program Pre-Registration is now available at www.michelinchallengedesign.com. Milestones are opportunities for reflection and forward thinking. Michelin is doing both to celebrate the 10th year of its global transportation design competition, the Michelin Challenge Design.

Saab 9-4X Revealed

Saab 9-4X Revealed It’s nice to see that Saab are getting back to being a maker of cars rather than a pawn of GM, and the reveal this afternoon of the Saab 9-4X marks the second new model in 2010 for Saab, even though both the Saab 9-5 and the Saab 9-4X have been on the horizon for what seems like forever. And, of course, after years (buried) under the GM umbrella  Saab’s products are going to be GM based, at least for now. So what we have with the Saab 904X is a Saab-ised Cadillac SRX, but that’s not too bad a thing.