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GM cuts Facebook ad spending, but Ford steps on the gas

On the eve of Facebook's wildly anticipated initial public stock offering, General Motors said May 15 that it will stop buying advertisements on Facebook--about $10 million a year--but "remains committed" to the social network as part of "an aggressive content strategy with all our products and brands." In other words, GM will not pay Facebook for ads but will continue to maintain content, for which Facebook doesn't collect revenue. News of the decision was reported in The Wall Street Journal. But GM's position is far from universal.

News watch July 2012: 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 Tuesday 31 July 2012•Porsche SE recorded a first half profit of €1.15bn, in comparison with €149m for the same period in 2011. The enormous jump has come not from directly selling cars, but from the group's investments in Porsche Zwischenholding GmbH and Volkswagen AG (Porsche SE)•Reuters suggests Germany's car market is in recession, but few outside the industry would know it, thanks to a controversial sales practice that inflates official statistics and paints a flattering picture of demand.

Geneva motor show: 2010 Saab 9-3x crossover debuts

At next month's Geneva motor show, Saab looks to provide a right-sized crossover with the introduction of the 2010 9-3X. Beginning with a 9-3 SportCombi wagon, Saab engineers raise ride height by 1.4 inches, add the XWD all-wheel-drive system that we first saw on the Turbo X and pump up the exterior styling. According to Saab, the 9-3X provides customers with the perfect alternative to large crossovers and SUVs, while offering respectable utility and off-road capabilities.