Hudson spent their limited budget on tooling up the Jet, which was the answer to a question no one asked, a small car that sold for as much as a full sized car. This left Hudson with no cash to replace the aging step-down models.
Ford wanted to out sale Chevy and be first in U.S. sales again, so they stepped up production and forced dealers to discount. Chevy simply did the same, which priced the cars where the indpendants couldn't compete. This forced the mergers that killed Hudson and Packard, and the big Nashes.