Posted by jimg.allentown on September 14, 2020 at 09:34:36 from (70.15.42.177):
In Reply to: Re: Harvestor Company posted by Jal-sd on September 14, 2020 at 08:43:21:
There could have been a big fourth automaker if...
Corporate execute James Nance at Packard had a vision of merging the four independent auto makers into one large company that would have been called American motors. It would have included Hudson, Nash, Studebaker, and Packard.
Unfortunately, Nance was killed in a crash before he could get his plan started. Ultimately, Packard bought Studebaker in what was probably the worst business deal in automotive history. Packard was flush with cash while Studebaker was drowning in debt. Studebaker took Packard down as they were sinking, and pretty much used what was left of Packard's cash to shore themselves up.
Meanwhile, Hudson and Nash merged to form what became known as American Motors. Their cars were of poorer quality than either of their parent company's cars.
I think that if Packard had stuck it out alone, they might have survived. But, going into 1958, the country was in recession and the economy was not as strong as it had been a few years earlier. That was why the decision was made to continue with the less expensive Studebaker cars rather than the Packard luxury cars. For the most part, they failed from poor management decisions rather than being "squeezed out" by the big three.
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