Automotive History Central: Portal To All Of Them Here

"In 1947, GM killed its Cadet small car program, after spending millions on development. In response to surveys showing that urban Americans wanted smaller, less expensive and more efficient and functional cars, GM set out to create the definitive modern small car. GM=92s Financial Operating Committee, based in New York, refused to authorize the funds to put the Cadet in production. They feared the program wouldn=92t provide the automaker=92s [then] customary 30 percent return on investment.

On this day sixty years ago, GM began to die. The whole premise of its success was based on the ever-more rationalized manufacture of full- sized cars (and trucks). When GM refused to accept a less than full=96 sized profit on a small car, it sealed its future."