In 1952 Hugh Ferry the president of Packard Motor Car Company stepped down. James J. Nance, famed market-wise hotshot from Hotpoint, was selected as president to turn Packard around. Packard was producing at only 50% capacity. Nance saw that Packard was doomed.
Like a tornado Nance aggressively sought new military contracts, separated the line into the mid-priced Clipper and the luxury line Patricians, and introduced the 1953 Caribbeans. In 1954 Packard merged with Studebaker. The Packard brand ended in 1958.