Few companies escaped the Stock Market Crash of 1929 that plunged the United States and much of the western world into an abyss of economic recession. One of the worst hit was the automobile industry—because obviously it was hard to sell cars to people who were out of work.
Prior to the market crash, sales had been booming for the American automobile manufacturer, Studebaker. The company was comfortably placed with three large plants spread over 225 acres manufacturing more than 180,000 cars per year. When the Great Depression hit, Studebaker, like many other companies responded by reducing the scale of their operations and laying off their workers. The company barely survived the depression. The chairman of the board committed suicide. A series of bad decisions throughout the 1930s and the 40s, and tough competition from Ford and General Motors sealed their fate.
In the midst of all these difficulties, the Studebaker orchestrated one of the biggest automobile stunts by building an enormous replica of the Studebaker President out of wood.
The President was one of their premier models. Released in 1926, it had a 5.8 liter six-cylinder engine (later models had a smaller 5.1 liter engine) capable of delivering 122 horsepower that made it a king in land speed records. It had modern filters for air, oil, and fuel, an improved thermostat, and a Lanchester vibration damper.
