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In 1951, Kurtis sold the license to manufacture the cars to Muntz, who quickly rebadged them as the "Muntz Jet", extended the body to make it a 4-seater, and exchanged the Ford engine with a larger Cadillac V8. Later, this engine would be replaced with a less expensive Lincoln side-valve V8.

The car, a sports coupe, was manufactured in Chicago, IL in the 2900 block of N. Sheffield Av. and featured its own unique design, with aluminum body panels and a removable fiberglass top that were manufactured in-house. Other parts (such as the engines) were sourced from other manufacturers. It was capable of 112 mph, a significant achievement for a road car at the time. It was featured on the cover of the September 1951 issue of Popular Science (with a Jaguar and an MG).

The company managed to produce only about 400 cars during 1951-1954, and due to the high manufacturing cost, Muntz himself estimated that his company lost about $1,000 on each car; this financial drain eventually caused him to close the company.

Because the cars were distinctive in design, well-built and good performers for their time, Muntz Jets today are rare and valuable collector pieces.

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