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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

AM General's new CEO has strong military roots

AM General has a new president and chief executive officer. Current CEO Charlie Hall is retiring from the company. In his place, the defense and automotive manufacturer has named industry veteran Andy Hove. Though primarily a defense contractor, AM General has produced a number of civilian vehicles as well. The company is perhaps best known for the Hummer (or Humvee in military parlance) and continued producing both the original H1 and the subsequent H2 after selling the brand to General Motors. Even after GM shut down the brand, AM General continued producing Humvees for military use and as a civilian kit. The company is also behind Mobility Ventures, which produces purpose-built wheelchair-accessible vehicles, assembles the R-Class for Mercedes-Benz, and has been linked to potential commercial van and pickup truck assembly for GM as well. Based in South Bend, IN, AM General shares its roots with the Jeep brand. It was split off from American Motors Corporation after the latter was bought by Renault and then by Chrysler. Today it's owned by New York-based investment firms Renco Group and MacAndrews & Forbes. A former Army officer, Hove arrives at the company with considerable experience in the defense industry, particularly in vehicle manufacturing. He has previously served as president of HDT Global and before that of Oshkosh Defense. Prior to that he headed up the Bradley tank program for BAE Systems, where he increased sales from $250 million to $2 billion within five years. His departing predecessor Charlie Hall was named CEO in 2011, assuming day-to-day responsibility for the company's operations from the suitably named chairman James Armour. Related Video: AM General Announces Vehicle Manufacturing Industry Leader Andy Hove To Serve As Chief Executive Officer Hove Succeeds Retiring CEO Charlie Hall SOUTH BEND, Ind., Dec 8, 2015 – AM General, the global leader in light tactical vehicles, today announced that Andy Hove will serve as the company's new Chief Executive Officer and President, succeeding Charlie Hall who is retiring. Hove brings to AM General a track record of excellence at a diverse array of defense and commercial companies in the United States and around the world. Hove most recently served as the President and CEO of HDT Global where he rapidly proved the quality of his leadership in helping transform the company.

2022 Rivian R1T vs. 2022 Ford F-150 Lightning vs. GMC Hummer EV Pickup | How they compare on paper

The 2022 Rivian R1T has arrived, ushering in the era of the production electric pickup truck. The Rivian reviews are in, and spoiler alert: They're pretty good. Curious how the new battery-powered truck stacks up to its forthcoming competitors? Well, you've come to the right place. Rivian beat all of Detroit's big automakers to market in the half-ton segment, but probably not by the margin the startup would have liked. Ford's answer is the F-150 Lightning, which is due to enter production early next year, coming hot on the heels of GM's first entry into the space – the GMC Hummer EV pickup – which is scheduled to come off the line late this fall. While all three are pickups, they're aimed at distinctly different buyers, as a perusal of their specifications will reveal. Let's have a look, shall we?   Disclaimer: Before we dive in on this one, we'd like to note that while we've made our best effort to verify the specs provided, the Rivian is brand-new and the others are still in the prototype phase. Some of these figures may be inaccurate or may simply change before production. This is all hypothetical until you can actually cross-shop them anyway, right? Cool. End disclaimer. Let's start with the powertrains. They're all battery-electric trucks engineered on a modular rear-wheel-drive configuration engineered to accommodate (theoretically, anyway) up to four electric drive units. Rivian actually makes the most use of this with a quad-motor setup producing 835 horsepower and 908 pound-feet of torque with its high-output initial model. GMC's three-motor Hummer has the R1T beat with its estimated 1,000-horsepower output, while Ford's (also three-motor) comes in with a far more modest 563 horses. This is an excellent illustration of our above point that these are not all engineered for the same crowd. Ford's F-150, which comes in at a lower price point, is meant to be far more mainstream, as its power output suggests.  This theme continues when we look at the dimensions. Despite the image "Hummer" may conjure, GMC's entry actually needs the shallowest parking space. The Rivian is right behind it, with the work-truck-spec Ford extending more than a foot longer than either. What the Hummer lacks in length, it makes up for in girth. It's the widest by a good 5 inches. The Rivian is only slightly pudgier than the F-150, but it's much closer at that end of the scale.