Four things brought the inevitable demise of Preston Tucker's dream. The news media, an SEC (securities and exchange committee) investigation, a corrupt politician (Homer S. Ferguson) and the "Big Three" auto makers managed to destroy Preston Tucker's dream of building a car company.
Preston Tucker set out to raise enough money to build his dream car. Tucker raised $17,000,000 in a stock issue. Tucker needed more money to continue development of the car. He came up with the idea to sell dealerships and distributorships throughout the country.
Future buyers could purchase accessories, like seat covers, radio, and luggage, before their car was built, to secure a spot on the car's waiting list, Tucker's idea brought an additional $2,000,000 (equal to $20,909,091 today) into the company.
In the summer of 1944, he hired noted car designer George S. Lawson to style his new automobile. Lawson was named the Tucker Corporation's "chief stylist." Preston Tucker began working on plans for his new automobile.
His specifications called for a water-cooled aluminum block flat-6 rear engine, disc brakes, four-wheel independent suspension, fuel injection, the location of all instruments within reach of the steering wheel, seat belts, and a padded dashboard.
Lawson worked on the project for over a year-and-a-half before his design debuted publicly. Beginning about February of 1946 and found as late as a year later in March of 1947,
Preston Tucker took the pre-production cars on the road to show them in towns across the country. With the final design in place, The cars were an instant success. Tucker told the story of being pulled over by a police officer intent on getting a better look at the
car.
Briefly produced in Chicago in 1948, Only 51 cars were made before the company folded on March 3, 1949.
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