The Playboy was the brainchild of former Packard dealer Louis Horwitz. Conceived as an “assembled” compact car – meaning it was made from components produced and obtained from a number of outside suppliers - it was to feature a convertible top while maintaining a price tag below $990. In theory, it was the perfect vehicle for those families looking for a stylish-yet-affordable second car. The initial prototype, unveiled in 1947, went a step beyond the compact 90-inch wheelbase chassis. It featured a manual softtop that covered three passengers while being powered by a Continental four-cylinder engine backed by a vacuum-controlled planetary transmission. What made it more unusual was the fact that the engine was rear-mounted a la Corvair (which wouldn’t be introduced for a little over a decade). Immediately after the prototype was assembled, however, the Continental engine was relocated to the industry-standard location in front of the driver. At the same time, the softtop was replaced by a two-piece, manually operated, counter-balanced folding hardtop. Pre-production versions were hand-built through 1949 with a variety of subtle changes, including choice of engine supplier, until a lack of funds prevented the Playboy from entering full production and forced its closure. In all, 97 were made, plus one station wagon prototype. Source: Hemmings Daily