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Why didn't GM recall fire-prone Hummers earlier?

As early as 2009, motorists reported fires in the Hummer H3. In a complaint filed that March with the regulatory agency in charge of vehicle safety, one motorist said they leaped into a smoldering vehicle and drove it away from gas pumps moments before it was engulfed in flames. Three months later, another motorist described how a fire spread from behind the glove box and consumed their H3. Dozens of car owners filed similar complaints with the National Highway Traffic Safety Administration in the six years that followed, detailing car fires of varying severity that originated in the HVAC systems of their Hummer H3s. But General Motors didn't issue a recall for any of the affected cars until last week, prompting fresh questions about how the company treats safety concerns in the wake of an ignition-switch flaw that went unaddressed for years and, at latest count, is responsible for killing at least 124 motorists. In recall documents filed with NHTSA last week, GM initially said it knew of three fires associated with the defect. Within hours, the company said it knew of 42 fires associated with the problem and three injuries sustained by vehicle occupants. A company spokesperson attributed the inconsistency to a "misstated" number in the original documents and that the higher number comes from NHTSA complaints, reports to GM and TREAD data. Beyond that discrepancy, the documents show General Motors, which has touted a revitalized attitude toward safety concerns since the ignition-switch recalls, did nothing upon determining there was a problem with the H3s. Prompted by two complaints the company received in September 2014, General Motors says it launched an internal investigation related to melting blowers in the HVAC system on December 8, 2014. In that investigation, the company says it confirmed a problem existed, finding that "mismatched electrical conductivity could result in overheating and melting of the blower motor connector module." But even with that conclusion, the company opted to close its internal investigation on April 29, 2015, without taking any action. It wasn't until NHTSA officials met with GM representatives in a meeting on June 18, 2015, that General Motors was prompted to reconsider.

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.

Humvee maker AM General reportedly for sale, with interest from FCA, GM

WASHINGTON — AM General has put itself up for sale and has hired investment bank Macquarie Group Ltd to seek potential bidders in a deal that could value the builder of Humvee military vehicles at more than $2 billion, people familiar with the matter said this week. Potential bidders include competitors in the military ground vehicle market, such as General Dynamics, Oshkosh Corp and BAE Systems, according to two people familiar with the matter. Automakers like Fiat Chrysler and General Motors may also be potential buyers. GM licensed Hummer from AM General in 1998 to build civilian SUVs. None of the companies would comment or reply to a request for comment. The South Bend, Indiana-based AM General is currently owned by private equity firms. A possible sale of AM General follows a rash of deals over the past 18 months among defense contractors. But relatively fewer makers of defense equipment have gone on the auction block. Last year, United Technologies acquired Rockwell Collins for $30 billion, and in March, TransDigm Group continued its acquisition spree with a $525 million deal for Extant Components Group. AM General could fetch about 10 times its annual earnings of $160 million, one of the people said. The company's favorable tax treatment because of its current status as an limited liability corporation, would allow a buyer to reduce the company's taxable earnings for 15 years. That coupled with recent contract awards could push the ultimate value of the company to over $2 billion in a sale. The sale, should it happen, comes as the U.S. Army is gearing up for a broad effort to modernize its forces, including seeking prototypes of its Next-Generation Combat Vehicle in fiscal year 2022. Last month, AM General was awarded an Army contract for as many as 2,800 new M997A3 High Mobility Multipurpose Wheeled Vehicle (HMMWV) ambulances. The contract could be worth as much as $800 million if all options were exercised, AM General said at the time. Last year, the Pentagon awarded AM General a $550 million contract to deliver HMMWVs for use as protected weapons carriers, cargo transporters and ambulances to Afghanistan, Iraq, Ukraine, Jordan, Slovenia, Bahrain, Columbia, Bosnia and Kenya as a part of a larger Foreign Military Sales agreement. The sale of AM General offers an opportunity to purchase a prime contractor that delivers a finished product to the Pentagon, and not just an add-on system or service.