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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.

Porsche Panamera Turbo S – 0-62mph in 3.8 seconds

Porsche has revealed the full details of its new Panamera Turbo S, and it’s a monster. Set to debut at the 2013 Tokyo Motor Show in November, the Panamera Turbo S is no less than 50hp more powerful than the regular Panamera Turbo, and now sprints 0-62mph in less time than an Audi RS6. Or indeed the last generation Porsche 911 GT3.

New Ford Mustang revealed for 2015: in pictures

Ford chairman Bill Ford has unveiled the new Ford Mustang at the firm’s Go Further technology workshop in Barcelona. MSN Cars is here reporting live from the event, and far from the unveiling of an irrelevant American muscle car, the new Mustang is actually rather pertinent. That’s because when it goes on sale in 2015, it’ll officially be coming to the UK in right-hand drive guise for the first time, baring some very European engineering features.