Word: nash
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Dates: during 1940-1949
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...handful of 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...
Thus smart Packard jumped the gun on other automen, got U.S. Navy orders for marine engines back in 1939, British orders for Rolls-Royce aircraft engines a year later. Soon other independents were in the grab bag too. Nash now makes airplane propellers and engine parts, will soon turn out giant flying boats way down in New Orleans; Hudson, new Oerlikon anti-aircraft guns and Naval ordnance goods; Studebaker, trucks and aircraft engines; Willys, jeeps and other items. The independents have more than $1,000,000,000 in war orders...
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...
...give the angry dealers relief, OPA's automan Cyrus McCormick has already promised that they will be allowed to sell at least 340,000 cars this year. Last week OPA eased the rules covering registration of new cars. Meanwhile Nash announced that it would lend its dealers $10 cash per car per month until March...
...tanks a day). Guns, shells and motors are at last in mass production. General Motors, once biggest of all automakers, is already producing arms of all kinds at the rate of a billion dollars a year. Packard and Studebaker are making airplane engines; Hudson makes anti-aircraft guns; Nash is at work on engines and propellers...