Studebaker announced the closing of the South Bend plant on December 9th, 1963, production of Lark sedans and wagons continued in Hamilton, Ontario until March of 1966.
Studebaker did NOT go out of business, they merged with Worthington Corporation (and there is still a Studebaker - Worthington Corporation website, it is a distant relation, http://www.studebaker.com), diversified by purchasing many other companies, such as Onan, Gravely, Clark and essentially merged themselves out of existence. If you had a 100 shares of Studebaker stock in 1963 it would be worth quite a bit of money today, although I'm not really sure what company that would be anymore!
Studebaker built wheeled vehicles continuously for 114 years, a record unmatched by any other company even today, 40 years after the last new Studebaker rolled off the assembly line. As you might imagine any company around for as long as Studebaker, with as many varied and interesting vehicles, would attract quite a following, and they did. To this day there are many thousands of Studebaker fans around the world. 13,000 of us are members of the Studebaker Drivers Club. (http://www.studebakerdriversclub.com) It is called the Studebaker Drivers Club for a reason, most of us really DRIVE our cars, that is what they were built for, and that is the best way to enjoy them. Even today, in the 21st Century, there are people who drive Studebakers every day, including me!
If you have read this far you may well want to learn more. Follow some of the links on this page, explore the world of Studebakers on the Internet, and if you are really interested come to a local meet and see some of these cars and trucks in real life and meet some of the people that care for them, Studebakers are like nothing else on the road today.