Automotive History: George Romney At Nash/Rambler/AMC (1947-1962) – Unflinching Vision and Determination To Take On The Big Three Dinosaurs With Compacts

 

AMC’s PR people came up with the term “dinosaur” to refer to the ever-larger cars being built by the Big Three, and it became a key part of a PR campaign and a speech Romney used over and over: “The Dinosaur in Our Driveway”. In it he blasted the competition’s “bigger is better” credo, saying, “Cars 19 feet long, weighing two tons, are used to run a 118-pound housewife three blocks to the drugstore for a package of bobby pins and lipstick.”

Not surprisingly, it did not go over well when first delivered to an industry group in Detroit. The media loved it, though, and the “dinosaur” concept became a household word.

In 1955, it was time to take on the UAW. In complete opposition to any logic, the tradition had been for the UAW to demand higher wages from the independents than the Big Three, when obviously it should have been the opposite. The union would negotiate a new contract with the Big Three, always with higher wages and benefits, and then taking that contract to the independents and demanding a premium or risk a strike, which they simply couldn’t afford.

Romney took his campaign against this unfair pattern by the union to the public and to Washington, where he spoke about the monopoly power of GM as well as the UAW. It was the kind of fight he relished, taking on any power structure he deemed to be unfair.

After a grueling negotiation, AMC won a major victory with the union that reduced, if not eliminated this premium.

Romney took a risk and committed a big chunk of Rambler’s advertising budget on a new and untried tv show, “Walt Disney’s Disneyland”. The bet paid off superbly, as Disneyland became one of the hottest shows on tv. It suited Rambler perfectly, especially with its emphasis on station wagons, which always sold at vastly higher levels than at other carmakers. It’s safe to say that the Rambler wagon was analogous to the crossovers and SUVs of today; the go-to car for families. They were considered stylish and youthful. Meanwhile, there were no two-door coupes or hardtops; one could also compare Rambler to Volvo in its prime, where wagons were also exceptionally popular and the only coupes were expensive and in limited production.

1955 turned out to be another bloodbath. Romney decided fresh new cars were essential. The big Nashes and Hudsons were already old, having last gotten new bodies in 1952. And the Ramblers were looking even older, their basic body going back to 1950. Romney could afford to redo only one of them. Which should it be?

Romney decided bet the farm on Rambler, and made a bold decision, to advance the introduction of new Ramblers up one year, to 1956, instead of 1957. He also halted the work on new large cars. This was an expensive bet, as the tooling for the 108″ wb four door Ramblers introduced had not been amortized yet.

Although sales ticked up some 35% over the dismal level of 1954, there was still a loss of $7 million.

1956, with the all-new Rambler line of four door sedans, hardtops and wagons, was to be the breakthrough year. It had better be. But the ramp-up was problematic, as it was bound to be, given the new cars’ timeline being reduced by a year. Dealers were starved of the new cars. Not surprisingly, quality suffered, especially in comparison to the typical high Nash standards.

In the summer of 1956, Romney had to go looking for more money from the bankers. It was a very hard sell, given how the year was unfolding. These same bankers and insurance companies had just turned down Studebaker-Packard, precipitating another of seemingly endless crises there. But Romney was persuasive about the positioning of Rambler, that it represented the future, not the past. They gave him $45 million instead of the $73 million he asked for, but that was a lot better than nothing. AMC was still in the running, sort of.

1956 was a crushing disappointment: despite the new Ramblers, sales were down, and big Nash and Hudson car sales evaporated. Cash burn was ferocious, and Romney cut back expenses wherever possible. The two company airplanes were sold, and sheet toilet paper replaced the rolls, among other privations. At an executive meeting Romney suddenly announced that he was taking a 35% pay cut, and asked who else would be joining him. No one dared not to.

Through drastic cost-cutting, AMC’s break-even point was reduced to 120k cars; now Romney just needed to sell that many.

In another move, Romney decided that there would be no more unique bodies for future big Nash and Hudson cars; they would move to the Rambler platform, with an extended wheelbase and unique styling. For the moment, it seemed like a viable plan to keep these cars and brands alive in the future.

Sales continued to be weak, so more of the furniture was burned. The El Segundo plant was sold, as was the old main Hudson plant. Other Hudson plants were put on the market. AMC’s Ranco Inc. division, the largest maker of temperature controls for appliances and cars, was sold for $10.6 million.

There was another problem: a threat of a hostile take-over and liquidation by the feared financier Louis Wolfson, who announced that he had bought 16,000 shares of AMC stock and was not happy to see its value tanking. Romney managed to fend him off, basically by procrastination, charm, and bluff. He managed to win Wolfson’s support long enough until AMC’s 1957 turnaround began, by which time he was happy to move on to better hunting opportunities. But the threat of a liquidation was very real for some time.

Near the end of 1956, Romney had something of an epiphany. Things were terrible, and there was still no end in sight. He decided that the future was 100% Rambler, and decided to kill off the big Nash and Hudson cars totally. AMC had to stand for one thing only: Rambler. There would be a Rambler Ambassador in 1958, but just as a Rambler with a longer front end. That also spelled the end of the storied Hudson and Nash brands. Somewhat surprisingly, dealers mostly supported that move. The big cars had become increasingly difficult to sell, and it was easier to sell something like the Rambler, with its unique qualities and image.

This was a historic step, and it invigorated Romney as he no longer had any doubt what he and AMC were fighting for: the triumph of the compact car, period. He had always believed in it, but had hedged his bets. No more.

This now became a genuine cause, and Romney was at his best fighting for a cause. He traveled the country making speeches and appearances. He was fighting for AMC’s life, which was hanging by a thread. And his message invigorated the troops, workers, dealers, and management. The battle was coming to the final showdown. and Romney was going to have all his guns blazing, even if he went down.

That was a very real possibility, given the massive $31.7 million operating loss for 1956. Two reasons for the size of it were the excess amortization of the old 1954-1955 Rambler body as well as the V8 program. At least these were non-recurring.

At the new-car introduction for dealers in late September 1956, Romney gave a sobering but prescient speech. He explained everything that had been done to position the company for survival and growth, and then he quoted Ibsen: “He is in the right who is most in league with the future”. He pointed out how Rambler could compete with the Big Three, because “our automobile program is more clearly in league with the future”. Romney urged them to increase sales, pointing out that if each dealer sold just one more car per month, AMC would turn the corner. He received a standing ovation, but more importantly, they had signed on to the fight to save American Motors. Romney’s missionary zeal was contagious.

But there was no respite, at least not yet. The winter of ’56-’57 was a grueling slog for survival, cutting even more costs, hoarding what little cash there was. But in the spring, things suddenly picked up; just enough to give Romney a sliver of hope and conserve precious cash. A rumor that AMC was looking to sell its Rambler operation to Chrysler popped up, but eventually Chrysler denied it. They had problems enough on their hands.

Despite the uptick late in the model year, there was still another painful loss for the year, $11.8 million. But automotive operations were increasingly in the black, and there was light at the end of the long, dark tunnel. Romney set out on another crusade to make that light brighter as fast as possible. He went on a massive nationwide PR blitz, traveling 70,000 miles in 12 months, speaking at union halls, dinners, churches, fairgrounds, radio and tv stations, wherever anyone would listen. His two years experience as a Mormon missionary in Scotland and England had well prepared him for this arduous task. He was on a crusade to sell the compact Rambler, and the timing was good, as a nasty recession had set in, and there was an increasing negative perception about the overwrought and oversized cars from the Big Three.

In response to the recession as well as the rapidly growing sales of low-cost imports, Romney decided to bring back the 100″ two-door Rambler sedan. Fortunately the dies had been stored in an AMC warehouse. There was no need to even build a prototype for the changes, mainly the rear wheel openings and a few other details. A low mileage 1955 Rambler two-door was purchased on the market, and had its rear fenders cut open and its taillights flipped. The total tooling cost was under $800k, about the same it took to restyle a fender at the Big Three.

It was a rather audacious move, resurrecting a model that had been discontinued three years earlier, and was essentially a 1950 car with facelift in 1954. It was targeted at potential import buyers, with a very low $1789 price tag. It sold quite well, but one does wonder why it had been killed in the first place. Presumably Romney wanted only fresh new Ramblers in 1956 to call attention to their new design and features.

The four door Rambler was restyled for 1958, with new quad headlights in the more traditional spot on top of the fenders, and sporting fins at the rear, which seems a bit of a sellout to fashion, given their utter uselessness. Romney had his factories gear up for increased production.

In February of 1958, Romney dropped a bombshell at a Senate hearing on the soaring cost of living, especially the increased prices of steel, petroleum and automobiles. He stated that for the good of the country, the Big Three should be broken up into smaller firms, to stimulate genuine competition. In particular, he suggested that GM could be broken up into three smaller companies. He also called for a reduction in union power, to bring back control of the supervision of plants into management, not by the unions themselves.

The Big Three were fine with that last sentiment, but the talk of breaking up the Big Three created a furor, and Romney became a pariah in Detroit. But he was quite comfortable in that role; speaking out on excessive power wherever he saw it was his passion.

Rambler sales exploded in MY 1958, up 58.7%; calendar year sales were up just over 100%. Rambler was the hot brand. Romney’s message had finally gotten through, and was being embraced with a passion. The result was the first full-year profit for American Motors, $26 million, and tax free, due to loss carry forwards. New dealers were flocking to Rambler; some 425 were signed up in 1958 alone.

Rambler had been very close to bankruptcy in 1957. It’s more than a bit ironic that a deep recession would be what it took to save an automaker, especially since it affected the others so negatively.

Romney was now a media star, with a cover on Time magazine and endless interviews. His message continued to be in essence “who wants to have a gas-guzzling dinosaur in the garage?” Time stated that Rambler’s explosive growth in 1958 was the catalyst that committed the Big Three to their compact programs for 1960. The Big Three claimed they were responding to the growth of imports, but there’s no doubt that the timing as well as the size and price range of the 1960 compacts were clearly targeted at Rambler and not VW and Renault. All of the Big Three’s earlier compact programs had been smaller cars with four cylinder engines, but when they pulled the trigger in 1958, it was with larger cars, all with wheelbases very close to the Rambler’s 108″, and with six cylinder engines.

There were plenty of industry predictions that the Big Three compacts would decimate Rambler. But they failed to appreciate the underdog image that Romney had cultivated for Rambler and himself. He had become a very public figure, appearing in Rambler advertising and network tv commercials on “Disneyland”. It was a preview of what Lee Iacocca would become in his crusade to save Chrysler twenty years later. There’s little doubt that Iacocca was very much influenced by Romney.

Meanwhile, 1959 was a stellar year for AMC, despite the competition form Studebaker’s Lark. Sales continued to explode, and net profit was over $60 million, after paying taxes for the first time in many years. Rambler was now the #6 brand in the US, with a market share of 6.2%, from 1.6% just two years earlier. Romney invested $40 million on plant expansions to increase capacity.

1960 brought another refresh to the Ramblers and a new crusade for Romney: quality. He coined a new slogan “The New Standard of Basic Excellence”. He wanted his employees to craft the best-built cars in the industry, to both retain existing customers and appeal to new ones. It was straight out of Toyota’s future playbook.

This was not just PR; Romney was increasingly aware that the lax standards in US union plants were no match for the imports, and that would not only affect quality but future affordability. His perception was that the union just wanted to perpetually do less work for more pay, a sure-fire formula for long-term failure.

Romney decided to address this in a fundamentally new way, and he started by doing something completely out of character for Detroit: he set up a series of meetings with Walter Reuther, head of the UAW, not to negotiate anything, but strictly to start an honest dialog to explore ways of improving the relationship between the two parties, and see if there was common ground.

The group met repeatedly, and Romney and Reuther forged a genuine relationship. Both of them eschewed drink and tobacco, and were honest, hard-working dedicated leaders who agreed that forging human dignity was the most important task of all. These conversations eventually led to a ground-breaking new contract in 1961 that broke the “pattern agreements” acknowledging that AMC was a smaller, more vulnerable firm as well creating incentives for workers to be more productive. The key element, which was lauded as “the most significant and historic collective-bargaining agreement ever signed in the US” included profit sharing, which made the workers feel invested in the financial success of the company through greater productivity and quality.

Romney’s competitors were shocked, and called him a socialist. He didn’t care, and of course he had been right: profit sharing eventually became universal in UAW agreements with the Big Three and other companies. Once again, Romney had been ahead of the times.

In 1960, AMC enjoyed a banner year despite the onslaught of new competition from the Big Three. Wholesale deliveries to dealers totaled 478,249 cars. Net profit was $48 million, and would have been more if not for the significant investment in expanding production facilities. AMC shares continued on their upwards momentum, making Romney a wealthy man. Not that it phased him: he still wore the same suits from the ’40s and ’50s, updated some by a tailor from double-breasted to single breasted. And he still drove his beloved Rambler.

Romney was increasingly aware of the inevitable globalization of the industry, and sought an international partner. He had sought merger agreements with VW and BMC, but these went nowhere. Too bad he didn’t have the foresight to look to Japan. It could have been a good fit, with the emphasis on compact size, efficiency and quality.

Meanwhile, Romney did blow an opportunity to buy Kaiser-Jeep in 1960, which the Kaisers were eager to unload. It would have both expanded the dealer network considerably as well as given AMC a very complementary product line. It also would have expanded AMC’s overseas presence considerably, given Kaiser’s strong presence in Brazil and Argentina. Of course this came to pass exactly ten years later, but passing on this opportunity was almost certainly Romney’s biggest strategic mistake.

There was another economic downturn in 1961, and this time AMC was not immune. But the company was still quite profitable, booking a $23 million net gain. Market share stayed high, despite the entry of a number of new competitors in the form of the “senior” compacts from Pontiac, Olds and Buick, which were clearly targeted at Rambler.

1962 would bring even more competition, in the form of Ford’s mid-size Fairlane as well as downsized “full sized” Plymouths and Dodges, which had obviously been created in response to the explosive growth of Rambler in 1958-1959. Rambler sales increased anyway, and revenue topped $1 billion for the first time ever. The new profit sharing plan paid out a tidy $12 million to workers.

Romney had become a major national figure, and not surprisingly, politics called. And he answered, taking an unpaid leave of absence to run for the governorship of Michigan as a Republican. Sales VP Roy Abernethy was promoted to president.

Romney left AMC in very good shape, a profitable major independent car-maker larger than any independent had been since the 1920s. Obviously, American Motors was destined to face new challenges in the post Romney era, which it did not meet as successfully as it had done in the late ’50s. But that’s a story for another time.

 

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