The third generation of Packard Eight was introduced for the 1938 model year. The third generation of the Eight was largely a renamed Packard One-Twenty, as Packard had ceased production of the larger Eights. The third generation was fitted with a 4.6L inline eight engine, and was available in a variety of open and closed body styles. The third generation Eight was only available in 1938 as the model would again be named the One Twenty. The Packard Eight name would again be used in 1948 for the Fourth Generation of Packard Eight.