The 1964 model year was a turning point for Studebaker Corp. After trying everything they could to stay competitive, sales continued to fall and Studebaker was forced to close its South Bend, Indiana manufacturing plant. That shifted all remaining production to Hamilton, Ontario (which only added two years to the Grim Reaper’s efforts). From the door tag, this 1964 Daytona sedan could have been one of the last U.S.-built Studebakers and has only 28,000 two-owner miles. Located in Indianapolis, Indiana, and offered by a dealer, the rare auto is available here on eBay where the bidding has reached $15,000 (but the seller is hoping to get to $28,000 or $1 per mile).
Most of what Studebaker did in the 1950s and 1960s could have been thought of as a Hail Mary and had to be done on a budget smaller than that of even American Motors, which was having its own problems. The company created the Lark compact in 1959 which gave it a short-lived boost in sales until the rest of the field got their own compacts by the early 1960s. By 1964, Studebaker was phasing out the name Lark in favor of Commander, Daytona, and Cruiser as restyled versions of the original Lark. It didn’t help much as barely 36,700 Studebakers were built in ’64 of which 11,200 were Daytona’s (and of those, 6,400 were 4-door sedans like the seller’s survivor).
The founder of Chick-Fil-A restaurants must have been a Studebaker fan and a collector as this beautiful example was in his possession from its beginning and then for many years. After this passing in 2014, the Stude was sold to another collector who continued to use the car sparingly, which explains a mere 28,500 miles on the odometer today. Everything about the auto except for consumables and seat fabric is original (the latter was replaced with period-correct materials).
Under the hood resides either a 259 or 289-cubic-inch V8 (we’re not sure which). Either should be powerful enough to keep the car moving along nicely without consuming copious amounts of gasoline. And it should be paired with an automatic transmission. Though not quite in time capsule condition, this Studebaker shouldn’t disappoint most collectors and could feel like 1964 again when you get behind the wheel. Even the floor mats are Studebaker-branded, taking you back to those days when South Bend was still producing automobiles.
South Bend was closed, because the UAW contract had expired, and union negotiators were uninterested in givebacks. Rightly or wrongly.
The Studebaker board, post-Nance, post-Curtis-Wright (a more-naked case of asset-stripping has never been seen)…was committed on a course, and that course was to diversify and then exit automobiles. Sherwood Egbert was hired as CEO from outside Studebaker, to – it was unspoken but, the board thought, obvious, to close out the auto business.
They never expected Egbert would become a born-again motorhead. Who woulda thunk, a virile late-thirties former fighter pilot, would GET INTERESTED IN HOT CARS? But that’s how it happened.
Egbert, unfortunately, developed cancer; and was fired – unspoken, for his non-cooperation in winding down the auto business – and replaced by a bean counter, Byers Burlingame. The mission from that point was clear: Close out Studebaker Automotive, while protecting the parent corporation from dealer lawsuits.
That was the purpose of the rump Studebaker Canada from 1964-66. Provide the franchised dealers with ONE car, not competitive, to prevent any legal action from having abandoned the market.
At the end, Studebaker’s board was determined. They rebuffed any proposed sale of Studebaker’s brand and patents and the Hamilton plant. They were no longer interested in tightening earlier ties with Daimler-Benz. They rebuffed interest by Nissan.
They wanted out. And, as could have been predicted…fifteen years later, Studebaker-Worthington was itself a property dismembered by other businesses.
Thank you for the insights! Learning this history is what I enjoy most about Barn Finds—the sharing of insights from those who know.
That was an interesting story!
Verizon good write up. A lot goes into making and breaking a big company. Packard, Studebaker and many others.
The fact that the UAW wasn’t interested in helping to keep jobs, and there were other interests in killing the company speaks volumes. I know that the company was mismanaged for years, and it’s a shame it’s not still in business.
Very good essay about Studebaker’s Decline.
In 1964, Car and Driver magazine published an article, “Who Killed Studebaker”. It’s worth reading, and I believe it’s available on line.
This is all true except Sherwood resigned not fired.
Beautiful Stude. It could be the nicest ’64 sedan left. The history of ownership by S. Truett Cathy is interesting.
Wow ! Not many of those ’64s left and especially with low miles and original condition . Studebakers were reliable cars and well made . A close friend of mine owned a ’55 model Studebaker , and he said ; ” It was one of his best cars !” What a shame Studebaker closed it’s doors in 1966 but they had to much competition as the younger generation wanted Ford Mustangs and Chevy Camaros etc. The rest is history !!
That black rubber strip just above the cowl tag is the edge of a panel style cabin air filter that pulls out for cleaning/replacing. How’s that for ahead-of-its-time?
Poppy, yes, that’s correct, however as the owner of a former Studebaker-Packard repair shop, I can tell everyone that 99% of Studebaker cars with the cabin “filter” [it’s more of a wire mesh to keep out large particles like tree leaves and helicopter seeds] never knew it existed, and when we pull the filter out they were almost always clogged with detritus.
Due to Studebaker’s always scanty resources, this car shared its chassis and much tooling with Studebaker’a last all-new model from 1953.
That’s the best written summary of what happened to Studebaker that I’ve read in a very long time. Well done.
JustPassin’s commentary was great! As a South Bend kid, it was so sad to see the Stude plant shut. I did own a 1964 Cruiser with the 289 and it was a sweet ride, much like this car. I sold it to a collector, darn it!
Sure is a nice looking car.
Indeed Studebaker was ahead of it’s time in many respects (my Dad only had Studebakers til 1960). I especially recall ‘hill holder’ brakes.
Labor costs, were the first blow. Studebaker was selling, but its costs, partly due to their older plant and partly for generous labor contracts…their breakeven point was WAY up there. Studebaker even kept false books, which were the ones shared with Nance and the Packard purchasers.
Ten years of losing money, showed in the lack of updating of product. The Lark only made it because it was cheap. The Avanti also, since it used a Lark frame and the body panels were fiberglass and outsourced.
Then, the scent of death. No big-ticket buyer wants an orphan product. Rumors began to circulate…and as happens, the rumors of decline became fact. It didn’t help that the Packardbakers were such a gaudy example of desperation and lack of capital.
Then, finally, after UAW threats of striking, the Studebaker board, with Egbert absent and about to be replaced…simply opted not to negotiate a new contract. When the contract lapsed, the plant would be padlocked.
The engine foundry was run a year longer as those workers had a separate contract. Again, no attempt was made to negotiate a new one; and by that time, the foundry workers knew what was in store.
But, just as with AMC twenty years later…the failure came in stages, from a few bad quarters, to, time to, variously, close down or sell the whole operation,
Doesn’t say much for the UAW, greedy, and not really acting in the best interests of its members.
Beautiful looking car. It’s too bad that was South Bend’s last year for Studebaker. However nice the car’s condition may be, I don’t think it’s worth $28k. I’d pay close to $20k for the car.
Imho Studebakers are great collector cars. Great club, great publications, great support and doesn’t look at all like any thing else at a car show that seem to be nothing but pony cars and something that resembles a muscle car.
So how do know if the Studebaker V8 is a 259 or 289?
Look at the engine serial stamping on the top right side of the engine block.
A “V” will be a 259 Cu.In. V8.
If it is a “P”, then it is a 289 Cu.In. V8.
Trivia: The Daytona 4 door sedan was only available for the 1964 Model Year.
My Grandfather bought a new ’63 and my Dad bought a new ’64. I had the opportunity to drive both and it was pretty obvious that the ’63 was a better made car. The ’64 was much more prone to rust and just overall felt “tinny” by comparison. This car is a beauty and the 4-door Daytona is a rarity, possibly as rare as finding a buyer with 28K to plop down on it.
Informative story. Capitalism is ruthlessly efficient above all else. There were no financial bailouts in those days unlike in our times.
PBGC was started to bail out the pensions.
Studebaker walked away from its pension obligations. Leaving many without promised pensions. That was the impetus for PBGC.
Thanks to `born-again motorhead` Egbert, the Avanti, with certain aircraft inspired features, was created. Quite the lasting legacy. If you know Avantis, you know what a special car it is. How can that fact not be mentioned?
Mostly because it doesn’t fit the topic.
The Avanti was brought to market too soon, with too many development problems…such as fiberglass panels that didn’t fit right. The line was slow to launch steady production – and this after ads had been hyping the Avanti for months. Interested buyers who put down deposits, sight unseen…demanded refunds and bought other cars.
It was typical of a sophisticated launch by a company in trouble. It angered at least as many buyers as it pleased; and by then, both Egbert and Studebaker were in serious trouble.
Was it a good car, a good effort? Absolutely. But by the time it was fully in production, Studebaker was not the company that could sustain it.
Had the Studebaker automotive division been sold intact, to Daimler-Benz or Nissan, the outcome would have been far different. Its success might even have kept the Studebaker name in the market – although D-B wanted the dealer network and Nissan, perhaps, the physical plants as well.
Studebaker is a sad story (even fans aren’t aware they blt engines for bombers in WWII) Poor mgt & shortsighted labor unions were the death knell. A real shame as loved that President I learned to drive in – tks Dad!