Many forum members, and particularly Triedag, should be interested in reading this article, in the May, 2012 issue of Hemmings Classic Car magazine.
For the younger members who are not familiar with this model, for the '57 & '58 model years, Studebaker stripped-down their low-priced Champion sedan and came up with the lowest-priced US-made car of its time, the Scotsman–and priced it at an astonishing $1,776. While it was possible to bump-up the sticker price with options, the options list was so short that the most the price could have gone up was–maybe $150. Even a radio was not available from the factory, although most folks probably did install one on their own, after delivery.
The price was held down by substituting a rubber mat for carpeting, and by eliminating sound insulation. The only chrome on the car was on the bumpers, as the hub caps, grill, and some trim pieces were painted. Overall, the car was truly bare-bones, but it was still a full-sized car. The Scotsman did not continue into the '59 model year because that was when Studebaker introduced the compact Lark, and they didn’t need any competition within their own model line for Lark sales.
The most astounding thing about this full-size, 6-passenger car was its fuel economy. The Scotsman routinely gave 30 mpg on the highway, and with the optional overdrive, it was capable of 40 highway mpg!
Some of its European rivals could boast of similar gas mileage, but none of them could carry 6 people and a full load of luggage. If someone wanted to give up some of that fuel economy, one of the few Scotsman options was a V-8 with 189 hp. There was even a Scotsman pickup truck–complete with V-8, that sold for about $200 less than the sedan.
If you want to read this interesting article, you can find the magazine at Barnes & Noble and–possibly–some other retailers with very large magazine racks.