The Ford line of cars was updated in 1937 with one major change – the introduction of an entry-level 136 CID (2.2 L) V8 in addition to the popular 221 CID (3.6 L) flathead V8. The model was a refresh of its predecessor, the Model 48 (itself based on the Model 40A), and was the company’s main product. It was redesigned more thoroughly in 1941. At the start of production, it cost US$850 ($15,302 in 2020 dollars). The Ford Line for several model numbers during this period: For domestic 1937 production in the United States Ford Model Numbers for 85-hp V-8 equipped cars was Model 78 and 60 hp V-8 cars was Model 74. Models 81A and 82A in 1938, and Models 91A and 92A in 1939.

The 1938 recession hurt sales, as did Ford’s continuing of the 1937 cars, including most body panels. 1938 DeLuxe models were differentiated with a heart-shaped grille, though standard models retained the 1937 look. The fading Slantback sedan design was cancelled for good. Only a V8 was offered, either a 60 hp V8 or an 85 hp V8. A new dash was used, with recessed controls for safety.

The 1938 trucks were finally updated, having continued with 1935 looks. Changes included a vertical oval grille and substantial fenders and bumper.

The 1937 – 1940 generation of Fords is one of the most popular automobiles for hot rodding. Early stock car racing drivers also used Fords of this generation among other cars. This Ford also formed the basis for a style of dirt track racing car.