The last automobile until the Avanti to have styling influenced by industrial designer Raymond Loewy's studio, the Golden Hawk took the basic shape of the 1953–55 Champion/Commander Starliner hardtop coupe but added a large, almost vertical eggcrate grille and raised hoodline in place of the earlier car's swooping, pointed nose, and was introduced as the Studebaker Speedster.

[1] The raised hood and grille were added to allow space for a larger engine, Packard's 352 in³ (5.8 L) V8, which delivered 275 bhp (205 kW).

Road tests of the time, many of which were conducted by racing drivers, seldom mentioned any handling issues in spite of the heavy front end.

[3] An increased options list and reduced standard equipment were used to keep base price down compared to the previous year's Studebaker Speedster, which the Golden Hawk replaced.

It was replaced with the Studebaker 289 in³ (4.7 L) V8 with the addition of a McCulloch supercharger, giving the same 275 hp (205 kW) output as the Packard engine.

Other styling changes included a new, round Hawk medallion mounted in the lower center of the grille, and the available contrasting-color paint was now applied to both the roof and tailfins.

[4] Several minor engineering changes were made for '58, including revisions to the suspension and driveshaft that finally allowed designers to create a three-passenger rear seat.

Like many more expensive cars, Golden Hawk sales were heavily hit by the late-1950s recession, and the model was discontinued after only selling 878 examples in 1958.