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1959 Studebaker Lark

1959 Studebaker Lark in A Matter of Life, Short Movie, 1968

Class: Cars, Sedan — Model origin: US

1959 Studebaker Lark

[*] Background vehicle

Comments about this vehicle

AuthorMessage

MatthewPaanoTorres US

◊ 2024-04-03 00:45

 Can someone tell me how Studebaker went unfortunately, out of business? :cry:

dhill_cb7 US

◊ 2024-04-03 00:47

 Are you trolling? Literally took two seconds to look up on google.

Quote Ballooning labor costs (the company had never had an official United Auto Workers (UAW) strike and Studebaker workers and retirees were among the highest paid in the industry), quality control issues, and the new-car sales war between Ford and General Motors in the early 1950s wrought havoc on Studebaker's balance sheet.[6]: 254–55  Professional financial managers stressed short-term earnings rather than long-term vision. Momentum was sufficient to keep going for another 10 years, but stiff competition and price-cutting by the Big Three doomed the enterprise.

From 1950 Studebaker declined rapidly, and by 1954 was losing money. It negotiated a strategic takeover by Packard, a smaller but less financially troubled car manufacturer. However, the cash position was worse than it had led Packard to believe, and by 1956, the company (renamed Studebaker-Packard Corporation and under the guidance of CEO James J. Nance) was nearly bankrupt, though it continued to make and market both Studebaker and Packard cars until 1958.[6]: 254  The "Packard" element was retained until 1962, when the name reverted to "Studebaker Corporation".


https://en.wikipedia.org/wiki/Studebaker

MatthewPaanoTorres US

◊ 2024-04-03 05:02
dhill_cb7 wrote Are you trolling? Literally took two seconds to look up on google.



https://en.wikipedia.org/wiki/Studebaker

I usually forget most of the time, so thanks.

Commander 57 US

◊ 2024-04-03 22:32

 It might be added that Studebaker fielded a winner with the '59 Lark, and the company turned a profit. This was quickly dashed however once the Big 3 launched their competing compacts: the Corvair, Falcon, and Valiant.
Studebaker could not match the economy of scale that the Big 3 could.

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