1963 Studebaker Avanti R2

Left Side Red 1963 Studebaker Avanti R2 Car Picture

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Studebaker`s total number of cars and trucks sold increased from 92,434 in 1961 to 99,476 in 1962, however, in 1963 there was a 17% decline in auto sales. This was partly due to the increased competition in the compact car market. Chevrolet now had the Corvair, the Chevy II, and a new model, the Chevrolet Chevelle built on a 115 inch wheel base. Also at the time, American Motors brought out updated versions of its Rambler Classic and Ambassador models. Studebaker faced a big task to gain more share of the market with so many other auto builders putting their products out to the public.

In December, 1963, Studebaker announced that it would be stopping automobile production in the United States. Circumstances made it unfortunate for the company but it was too late to turn things around. The company divisions that Egbert had brought in made combined earnings of around $11 million, but the automotive division lost nearly $25 million.

Further to bad news for Studebaker, later in 1963, Egbert found out he had cancer which forced him into at least two operations. In November 1963, the Board asked that he take an indefinite leave of absence. The man who was driven to save the Studebaker car division would be stepping down.

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