The Budd Company built the XR-400 as a proposal to American Motors for a low-cost Rambler-based "sports convertible." Though it could have appeared at least six months before Ford's similar Mustang started the "ponycar" craze, AMC didn't have a crystal ball and rejected the idea. Budd kept the lone prototype, but later renamed it "XR- Budd" and used it for promotional purposes. The XR-400 was styled by Budd, which also planned to supply bodies and major sub-assemblies for AMC's production version. Prototype was built on a 108-inch '62 Ambassador chassis, the same wheelbase used for early Mustangs. XR-400's least lovely aspect was probably its "face," but AMC might have fixed that and other matters had production gone ahead. The prototype now wears chrome-reverse rims but originally had simple full wheel covers. Proportions made for a rather ungainly profile, but the long wheelbase and short overhangs were good for interior space. Top-up appearance suggested a two-seater, but the layout was actually 2+2. Simple dash was not unlike the first Mustang's Falcon-derived panel. Semi- bucket front seats came from AMC, as did many other hardware items. Though cramped except for tots, the XR-400's rear bench seat was likely included because Ford had turned down Budd's earlier XT-Bird for lacking four- place seating. XR-400 put minor controls and full gauges dead-ahead of a three-spoke wood-rim steering wheel in classic sports car fashion. Here's how it looks today.