Word: huppe
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...independents struggling against odds. All the signs point to a motor industry in which the Big Three will have to face the competition of a vigorous brood of independents, wise in know-how and better founded financially than at any time in a decade. Thus last week Nash, Hupp, Hudson and Packard were the four most active stocks on the New York Stock Exchange-and all four hit new highs for the year...
...things which the world will see at the end of World War II is a new face on the U.S. automobile industry. This fact was double-checked last week when a Federal judge ended the year-old trusteeship of mercurial Hupp Motor Car Corp. Hupp has paid all delinquent and current taxes, has cutaits RFC loan 30% to $550,000, will pay all creditors $1 on the $1. Even common shareholders will not be wiped out. They can swap 100 old shares...
...Hupp's renaissance is symbolic of the reversal of a trend. In 1928 the independents of the industry sold 39% of all new U.S. passenger cars and the four biggest ones-Hudson, Nash, Packard, Studebaker-earned $68,800,000. Then came the Depression plus terrific competition from General Motors, Chrysler and Ford. Result: dwindling sales and mounting losses. By 1933 they had less than 10% of the U.S. passenger-car market; the same four companies lost $9,600,000 (piled atop a $19,500,000 deficit in 1932). For most independents this was too much; they fell like...
Graham and Hupp, both in financial trouble, have dovetailed production lines to make "Hollywood" Grahams and "Skylark" Hupps. Neither is at the Show...
With new machinery and the Hupp dies installed, the West Warren Avenue plant was expected to start manufacturing next week. Hupp will make its own motors. Graham will use Hupp dies for some of its own cars, make Hupp bodies and assemble Hupps. On hand were orders for 1,500 to 2,000 Hupps and Grahams. Top 1940 production was set at an optimistic 40,000 Grahams, 20,000 Hupps...