Packard 54th Series offered two convertible body styles for 1954, and both were on the senior line (Series 5431). Both rested on the sporty 122-inch wheelbase platform and had a 211.5-inch length. Power was from the company's largest engine, an inline L-head unit with a 359 cubic-inch displacement, nine main bearings, hydraulic lifters, a Carter four-barrel carburetor, and delivering 212 horsepower at 4,000 RPM. This was the largest engine on the market, and its 212 horsepower was among the most powerful, on par with the Series 75 Cadillac Fleetwood and Series Sixty Special that offered 230 hp, and the Ferrari 250 Europa that had 220 horsepower. This would be the final year for Packard's inline 8, as a new and modern overhead-valve V-8 was introduced in 1955. The Packard straight-eight engine was backed by a three-speed manual transmission or optional Ultramatic drive unit, and standard equipment on the convertible included the pelican-style hood mascot and rear fender shields. The interior upholstery was done in a combination of leather and leather-grained plastic.
Packard's two convertible body styles had many similarities, but many differences. The Caribbean had more standard equipment including power windows, a power seat, dual heaters and defrosters, the Ultramatic transmission, a three-way radio with electric antenna, chromed wire wheels, wide chrome wheel-housing surrounds with body sill and rear quarter panel extensions, and a continental spare tire. The Caribbean Custom was certainly the top-of-the-line Packard with its price tag of $6,100 far exceeding all other 1954 Packards, except for the Patrician Custom/Henney Line that included an executive sedan and limousine - both with seating for eight passengers - and prices beginning at $6,900 and rising to $7,250.
While the Caribbean had a base price of $6,100, the 'Packard Convertible' listed for $3,935, a difference of over $2,100. A total of 863 examples of the Convertible were sold while the Caribbean found only 400 willing buyers. The other Packard model in the 'Packard Line' was the Packard Pacific hardtop coupe, which had a base price of $3,830 and had 1,189 sales.
by Dan Vaughan