Daily News Briefs: May 16, 2012
The new 2013 Nissan Altima sedan went into full-scale production Tuesday, according to Nissan USA. The Altima should be widely available at dealerships by July. The launch of the 2013 Altima at the Smyrna Assembly Plant in Tennessee marks the continuation of 20 years of Altima production at the facility, which has helped produce 4.4 million Altimas since the car's debut in 1992. The 2013 Altima will also be manufactured at Nissan's assembly plant in Canton, Miss., and its engines will be built in Decherd, Tenn. The Altima kicks off the automaker's launch of five new models in the coming months. The next to show up will be the Pathfinder, Nissan says.
In other news:
- GM will start a second shift at its Cadillac assembly plant in Lansing, Mich., to build the ATS, according to Reuters. The new shift will add 600 workers in July. By late July or early August, Cadillac should begin ATS deliveries, Reuters says.
- GM said it plans to stop advertising on Facebook after evaluating paid ads' effectiveness in reaching customers on the social network, according to The Wall Street Journal. GM will continue to maintain its Facebook pages, even though they still cost the automaker some $30 million to manage, the newspaper reports. GM is one of America's largest advertisers; it spent $1.8 billion on advertising last year and spent about $10 million on paid ads on Facebook.
- Berkshire Hathaway, a conglomerate managed by business mogul Warren Buffett, has confirmed a purchase of 10 million shares in GM worth about $222 million in today's trading, according to Bloomberg. GM's stock was up more than 4% on today's news.