The Tucker 48 is an automobile conceived by Preston Tucker while living in Ypsilanti, Michigan. Preston was an American automobile entrepreneur, and briefly produced the cars while in Chicago, Illinois in 1948. If you want to get a good idea of what this old beauty looks like, check out this Tucker Torpedo replica.
Only 51 cars were ever made, including the prototype model, before the company was forced to declare bankruptcy and stop all operations in March of 1949. Sounds kind of like the path Nissan might be going on now. Due to a negative view in the public eye by the news media, the company was forced to go under.
Let's dig deeper into the tragedy behind the Tucker Torpedo and why it was going to be America's next great automobile...
Development
After World War II, the public was ready for new things - new car designs and new companies. Unfortunately, the Big Three Detroit automakers had not developed any new models since 1941, which provided new opportunities for small automakers.
Despite Studebaker, an American wagon and automobile manufacturer in Indiana, making the first moves post-war, Tucker took a different approach, designing a safety car with modern styling. His specifications included a flat-6 engine, disc brakes, independent suspension, and fuel injection.
Preston Tucker hired a team of five designers from a New York firm, J. Gordon Lippincott, to update the previous designer's thoughts. One thing that severely harmed the company and brought about the public dismay and the lawsuit for the Tucker Torpedo was the suggestive statements used during this time.
Despite having no working prototype that existed at this time, Tucker came out with statements suggesting that "15 years of testing produced the car of the year." This was one of Tucker's first run-ins with fraud charges, but they were ultimately dismissed in January of 1950.
Trouble at the World Premier
The world premiere of the Tucker '48 was initially set for June in 1947. Over 3,000 people showed up at the factory in Chicago. The unveiling, however, was plagued by problems from the start.
The night before the premier, two of the prototype's suspension arms broke under the car's weight. This was partially due to the fact that the prototype was heavier than the other '48s, causing the suspension arms to snap.
Even with this, the car was presented at the time of the premier after they had fixed the engine problems. Another problem arose, however - the 589 engine was extremely loud. Tucker tried to remedy this issue by having the band play as loud as they could.
Furthermore, the high-voltage starter required the use of outside power to start the engine, so Tucker had to instruct the engineers to keep the engine running throughout the entire event. As the car was driven onto the platform for the unveiling, the liquid coolant boiled over, and steam visibly escaped from the vehicle.
SEC Investigation and Demise
One of Tucker's innovative business ideas ended up ultimately causing the last straw for the company. His accessories program acquired funds by selling accessories prior to the car even being in production.
After the war, demand for new cars was greater than dealers could supply. America wanted cars since they were the cornerstone of the new suburban culture, but production had completely stopped between 1942 and 1945. The long wait lists for new vehicles prompted Tucker to continue his program to topple the outdated pre-war designs. Tucker's program allowed potential buyers that purchased these parts to obtain a guaranteed spot on the company's waiting list, pushing them ahead of returning veterans.
This concept was investigated by the U.S. Securities and Exchange Commission, who is responsible for enforcing federal securities laws, and led to an indictment of company executives. Even though the charges were dropped, the negative publicity destroyed the company.