In 1931, Studebaker had every reason to boast about its achievements. Three race cars powered by Studebaker’s straight-eight engine were entered in the prestigious Indianapolis 500. One of these vehicles not only secured the pole position but also finished in fifth place, trailing behind three Millers and a Duesenberg. Encouraged by this success, Studebaker took an ambitious step by fielding a full-fledged factory racing team for the 1932 and 1933 seasons. The team’s performance in the 1932 Indianapolis 500 was remarkable, securing a third-place finish, further solidifying Studebaker’s reputation in competitive racing.
The publicity and recognition gained from the Indianapolis 500 reinforced Studebaker’s confidence in its engineering and decision-making. The South Bend-based company had introduced its first straight-eight engine three years earlier, a move that would prove to be a significant milestone. This engine, alongside Studebaker’s established straight-six, offered robust power and performance, positioning the company as a serious contender in both consumer and racing markets.
The Development of the Straight-Eight Engine
The development of Studebaker’s straight-eight engine was a response to the growing demand for higher-powered, more refined automobiles. Introduced in 1928, this flathead straight-eight engine initially had a displacement of 313 cubic inches and an output of 100 horsepower, making it more powerful than Cadillac’s larger V-8 engine of the time. This advantage allowed Studebaker to challenge its more prestigious competitors while maintaining a competitive price point.
By 1932, Studebaker had refined the engine further, increasing its displacement to 337 cubic inches and boosting the output to 115 horsepower. A key feature of this evolution was the inclusion of a crankshaft supported by nine main bearings, compared to the original five. This enhancement significantly improved durability and smoothness, making the engine not only more reliable but also capable of delivering a refined driving experience. These innovations helped solidify Studebaker’s reputation as an automaker dedicated to performance and engineering excellence.
Introduction of the President Eight Speedway
To celebrate its success at the 1931 Indianapolis 500, Studebaker introduced a special edition of its President Eight model, named the Speedway. Officially launched in August 1931, the Speedway was based on the President Eight Four-Season Convertible Roadster but featured several performance and aesthetic enhancements. This was an unusual move for Studebaker, as the company was traditionally known for its conservative styling. The Speedway model, however, embraced a flashier look, featuring a bright red interior, chassis, undercarriage, radiator slats, and wire wheels. Customers were given a choice of just two exterior colors: Chessylite Gray and Black.
The Speedway was more than just a visual statement—it was engineered for speed. It was designed to meet the homologation requirements for AAA-sanctioned speed trials, with the factory producing 100 Speedway roadsters specifically for this purpose. This decision proved fruitful, as the model set nine new speed records at Muroc Dry Lake in Southern California, further demonstrating Studebaker’s engineering prowess.
Design and Performance Enhancements
The President Eight Speedway was built with several modifications to distinguish it from the standard model. These included:
- Higher Compression Cylinder Head: Painted red to signify its performance orientation, the higher compression ratio improved engine efficiency and power output.
- High-Lift Camshaft: Enhanced valve timing allowed for better airflow, increasing overall performance.
- Stromberg Carburetor with Larger Throats and Jets: This improved fuel delivery, ensuring a more responsive throttle and higher speeds.
- 3.47:1 Rear Axle Ratio: Optimized for performance, this gearing allowed the vehicle to achieve higher speeds with greater ease.
With these upgrades, the Speedway model was not just another luxury vehicle—it was a high-performance machine that could rival many of the sports cars of its time.
The Distinctive Features of the President Eight
All President Eight models of the early 1930s carried distinct and elegant styling. The 1931 lineup received a modest restyle, incorporating:
- A veed radiator that enhanced aerodynamics.
- A larger radiator cap for improved cooling.
- Fender-mounted parking lamps, adding to the vehicle’s sophisticated look.
- Oval-shaped “Ovaloid” headlamps, a signature Studebaker design element.
One of the standout features of the Four-Season Roadster variant was its roll-up windows. Unlike many roadsters of the time that relied on removable side curtains, this feature provided superior protection against inclement weather, making the vehicle more practical for year-round driving.
Though pre-war Studebakers are not often mentioned in the same breath as luxury brands like Packard, Cadillac, and Peerless, the President Eight models produced between 1929 and 1933—excluding the 1933 Series 82—are recognized as Full Classics by the Classic Car Club of America (CCCA). This distinction underscores the model’s significance in the automotive history of the era.
The Restoration of a President Eight Roadster
One particularly remarkable example of the President Eight Roadster was restored to full Speedway specifications, even though it was not one of the original 100 Speedways. The restoration was undertaken by Don Armacost Jr., a dedicated Studebaker enthusiast who had long aspired to own what he considered the “Holy Grail” of Studebakers.
Don discovered the vehicle listed for sale in Hemmings Marketplace in 1994. At the time, it was complete but in primer and required an engine rebuild. What made this find even more special was that the car retained approximately 99% of its original wooden framework—a rarity for vehicles of this age. With extensive effort and attention to detail, Don successfully restored the car to its original glory, ensuring that it reflected the high-performance standards of the Speedway model.
Market Value and Rarity Today
The Studebaker President Eight Roadster, particularly the Speedway variant, is an exceedingly rare vehicle. Over the past five years, only one 1931 President Roadster has appeared at auction, failing to sell at an undisclosed high bid. However, two President Eight Roadsters from 1929 were successfully sold:
- A 1929 model fetched $53,760 at Gooding’s auction of an estate in April 2023.
- Another 1929 model was sold for $77,000 at Mecum’s May 2021 auction in Indianapolis.
These sales indicate that well-preserved examples of the President Eight remain highly desirable among collectors, though their availability is extremely limited.
Specifications of the Studebaker President Eight Speedway
- Engine: L-head straight-eight, 337 cubic inches, two-barrel Stromberg carburetor
- Power Output: 122 horsepower at 3,200 rpm
- Transmission: Three-speed manual with freewheeling feature
- Suspension:
- Front: Solid axle with semi-elliptical leaf springs
- Rear: Live axle with semi-elliptical leaf springs
- Brakes: Four-wheel mechanical drum brakes
- Wheelbase: 130 inches
- Curb Weight: 4,130 pounds
- Original Price: $1,900 (equivalent to approximately $39,400 in 2024 dollars)
- Current Estimated Value: $52,600
Conclusion
The 1931 Studebaker President Eight Speedway remains one of the most remarkable vehicles of its time, blending high-performance engineering with elegant styling. Its legacy in both racing and luxury automobile history is undeniable, and surviving examples are now prized collector’s items. Whether as a symbol of Studebaker’s innovation or as a piece of motorsport history, the President Eight Speedway continues to captivate automotive enthusiasts worldwide.
