In 1924 Cord was hired by the financially troubled Auburn Automobile Company to turn the company around. Shortly after joining the company he was named General Manager and then made Vice President. By 1926 Cord was the chief stockholder of Auburn.
By keeping retail prices low, adding eight-cylinder models, and expanding the dealer network, Cord was able to turn Auburn Automobiles into a very successful company in the late Twenties.
In 1926, Cord arranged for the purchase of the Duesenberg company to add a top-of-the-line luxury, high-performance car.
In 1927, under the leadership of Cord, Auburn purchased the Lycoming engine company. By the 1930 model year, Auburn offered a 70-horsepower inline six and two inline eight-cylinder engines.
Errett introduced a new marque, named after himself, the Cord, in 1929 as a midprice automobile for the market between the Auburn and the Duesenberg.
E.L. Cord used the profits from the Auburn company to expand into other industries. Financial problems and legal troubles would force the sale of most of his assets in 1937 but he wold be able to hold on to some valuable California real estate.
Later Mr. Cord became a ranch owner in Nevada and persued a political career, becoming a state senator in the late 1950?s.
Errett Lobban Cord died of a heart attack in 1974.
