Duesenberg Automobile & Motors Company was forced into receivership

Tuesday 2nd January 1923

Duesenberg Automobile & Motors Company was forced into receivership. The Duesenberg brothers, Fred and Augie, may have been excellent automotive engineers, but they were lousy businessmen. In 1924 the company went into receivership, but somehow it survived that year. In 1925, the firm’s name was changed to “Duesenberg Motors Corporation” and Fred assumed the title of president. Fred and August struggled to keep the company, but to no avail, as they weren’t able to raise enough capital. In 1926 they produced the Model X, to replace their Model A. Model X Duesenbergs are very rare. It was a sportier version of the model A with a heavier and longer chassis and 100 hp engine that enabled it to reach 100 mph. Only 13 were built and only four were known to survive until Jay Leno found a fifth X in a neighborhood garage in 2005. Errett Lobban Cord, the owner of Auburn Automobile, bought the company on October 26, 1926 for the brothers’ engineering skills, talent and the brand name in order to produce luxury cars. He challenged Fred Duesenberg to design an automobile that would be the best in the world. It took Fred 27 months to create the Model J.

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