In 1953–54, Ford and GM waged a brutal sales war, cutting prices and forcing cars on dealers. While this had little effect on either company, it gravely damaged the independent automakers. Nash president George W. Mason thus proposed that the four major independents (Nash, Hudson, Packard, and Studebaker) all merge into one large outfit to be named American Motors Corporation (AMC). Mason held informal discussions with Nance to outline his strategic vision, and an agreement was reached for AMC to buy Packard's Ultramatic transmissions and V8 engines. They were used in 1955 Hudsons and Nashes.