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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 March 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 Friday 30 March 2012• Fiat is suffering from its decision to suspend new product innovation during the recession, argues ANE. It is losing ground on account of delays to its Punto range, which won't be replaced until 2014, and the ageing Bravo, which was launched in 2007 and has no successor in sight (Automotive News Europe)• Mercedes plans to build the new four-door coupe spun off the A- and B-class architecture at its new Hungarian factory (Automotive News Europe)• Opel denies rumours it may sell the Eisenach factory in east Germany where it builds the Corsa supermini (Automotive News Europe)• Mercedes is cutting the time it takes to build a car from 43 hours in 2008 to nearer 30 hours by 2015, according to production boss Wolfgang Bernhard.

Ferrari F450 – due at Frankfurt in September ’09

Rendering of the Ferrari F450 - due to show at Frankfurt in September and go on sale in 2010 But the new Ferrari F450 is getting closer, and spy shots of the F450 have enabled Auto Express to come up with a rendering that is, we reckon, near as dammit to the finished article due to be shown at Frankfurt in September. Sporting a pair of big side vents that have been enlarged to help the engine breathe and the brakes cool, the F450 is different enough to the F430 to set it apart as a new car – not just an evolution. The F450 is going to have to go upmarket to compete with the likes of the Lamborghini Gallardo LP560-4, and in an effort to compete Ferrari has upped the capacity of the F430, increased the rev limit and produced an engine that, in the F450, should deliver something around 500bhp.