They put the bullet on the nose so people could tell which way it was going. The 1948 Studebaker was the 'which end is the front' car. Loewy may have drawn rear-engined variants but Porsche's design for Studebaker, the Type 542, was front-engined. But he delivered air-cooled and water-cooled variants.
https://blog.hemmings.com/index.php/...er-by-porsche/
There was also a design for a small rear-engined car that never got farther than dropping a Porsche flat-four with bus reduction gearboxes in the back of a 1959 Lark.
http://www.studegarage.com/porsche.htm
It was supposed to get a Curtis-Wright Wankel engine.
Old Tele man -- It cost me $100. I'd passed on a 1954 Hudson Hornet business coupe.