American Motors Corporation
In January 1954, Nash-Kelvinator Corporation began acquisition of the Hudson Motor Car Company (in what was called a merger). The new corporation would be called American Motors Corporation. (An earlier corporation with the same name, co-founded by Louis Chevrolet, had existed in New Jersey from 1916 through 1922 before merging into the Bessemer–American Motors Corporation.)
American Motors Corporation
In 1954, Packard acquired Studebaker. The new Studebaker-Packard Corporation (S-P) made the new Packard V8 engine and Packard's Ultramatic automatic transmission available to AMC for its 1955 Nash Ambassador and Hudson Hornet models. When Mason died in 1954, George W. Romney succeeded him. Ironically, Romney had once been offered Nance's job. In 1948, Romney received offers from Packard for the post of chief operating officer and from Nash for the number two position in the company. Although the Packard offer would have paid more, Romney decided to work under Mason because he thought Nash had a brighter future. S-P President James Nance refused to consider merging with AMC unless he could take the top position (Mason and Nance were former competitors as heads of the Kelvinator and Hotpoint, respectively), and a week after Mason's death Romney announced, ""there are no mergers under way either directly or indirectly."" Romney agreed with Mason's commitment to buy S-P products. Mason and Nance had agreed that in return S-P would endeavor to purchase parts from American Motors, but S-P did not do so. As the Packard engines and transmissions were comparatively expensive, AMC began development of its own V8. AMC also spent US$40 million developing its Double Safe Single Unit monocoque, which debuted in the 1956 model year. In mid-1956, the Packard V8 and transmission were phased out and replaced by AMC's new V8 and by GM Hydra-Matic and Borg-Warner transmissions.