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Luxury carmakers make way more than just cars

Whether it's as simple as Ferrari offering model cars or as opulent as Bugatti with an $84,000-belt buckle, practically every automaker does more than just sell cars to keep their brands visible. The profits from these ventures might not be enough to keep the lights on, but in such a competitive industry, any extra cash is welcome. For the automakers that get licensing just right, there is a ton of profit to be made. According to a recent story examining the practice by The New York Times, Ferrari makes around $2.6 billion from merchandising each year, and General Motors tops that at $3.5 billion. Beyond just a profit center, merchandising can also protect an automaker's name. Take Hummer for example. The GM division shut down years ago, but it has continued to produce licensed cologne on sale around the world. "Because we still have the active fragrance, we're protecting the brand if we ever decide to bring it back," Gene Reamer, a GM licensing senior manager, told the Times. The whole piece is a fascinating look into this often ignored, but quite lucrative facet of the auto business. Read it for yourself, here. Related Video: News Source: The New York TimesImage Credit: Luca Bruno / AP Photo Design/Style Earnings/Financials Marketing/Advertising Read This Ferrari GM Hummer branding

Subcompact Crossover Comparo Roundtable | Autoblog Podcast #599

This week, we've got a special episode of the Autoblog Podcast, wherein you'll hear the extended version of the roundtable discussion from our Subcompact Crossover Comparison. In it, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski, Senior Editor, Green, John Beltz Snyder and Associate Editor Joel Stocksdale. After extensive testing (and filming) in Northern Michigan, our editors break down what they liked and loathed about the Honda HR-V, Hyundai Kona, Jeep Renegade and Kia Soul. Grab a cup of coffee with us, and enjoy. Autoblog Podcast #599 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:    

Hummer EV could be part of GM's move into electric trucks and SUVs

WASHINGTON/DETROIT — General Motors plans to build a new family of premium electric pickup trucks and sport-utility vehicles at its Detroit-Hamtramck plant beginning in late 2021, possibly reviving the imposing Hummer brand with some of them, several people familiar with the plans said. The so-called BT1 electric truck/SUV program is the centerpiece of a planned $3 billion investment in the Detroit-Hamtramck plant to make electric trucks and vans, and part of a broader $7.7 billion investment in GM's U.S. plants over the next four years, according to a proposed labor deal between the automaker and the United Auto Workers union. The investments were made public by the UAW on Friday, but no details were provided. The investment would move the automaker into a part of the EV market that is largely untested and where GM has a higher likelihood of turning a profit, analysts said. "It makes perfect sense to hit the high end of the market in order to generate some revenue that might actually turn a profit," Auto Forecast Solutions vice president of global vehicle forecasting Sam Fiorani said. GM is mirroring the approach electric carmaker Tesla took by starting in the high end and then moving down the price ladder, he said. That is important for a company who previously tried to sell the plug-in electric hybrid Chevrolet Volt and all-electric Bolt cars at lower prices and higher volumes, but failed to sell enough to make those efforts profitable, Fiorani said. The UAW's 48,000 GM hourly workers are scheduled to vote next week on the proposed contract that would end a monthlong strike that analysts say has cost the No. 1 U.S. automaker about $2 billion in lost profit. GM's BT1 program includes an electric pickup for the GMC brand and an electric SUV for Cadillac, both due in 2023, the sources said. Before then, GM plans to begin low-volume production in late 2021 of the first BT1 model, a pickup, under a different brand, the source said. A performance variant of the pickup will be added to that brand in 2022, followed by an electric SUV in 2023. One of the sources said the Hummer name is "under consideration," but a decision has not been finalized. The pickup is codenamed "Project O." Bringing back the Hummer name would take advantage of a still strongly recognized brand name, Fiorani said.