GM pulling Facebook ads, saying they don't work

General Motors Co. reportedly plans to stop paying for ads on Facebook but continue to use the social network in its marketing efforts, according to the Silicon Valley / San Jose Business Journal.

Unnamed sources said GM had decided that their paid ads on Facebook were having little impact on consumers, according to the Wall Street Journal.

GM spends about $40 million on Facebook, with about $10 million for advertising and the rest on content created for the site, agencies that manage the content and daily maintenance of GM's pages, according to the Wall Street Journal.

The news isn't expected to have a direct impact on Facebook, which reported that it had about $3.7 billion in revenue in its most recent fiscal year.

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