Hoover did that for decades. (no pun intenede)
They'd make a vacuum w/ a shorter cord, no light, half a bumper, snap bag...the Convertible "Special". same motor, etc but a lower cost.
They'd manufacture 2 models at a time sometimes.
Care were similar. Pontiac and Chevrolet would be almost the same..... different names.
Sadly, Ford made Thunderbirds look just like everything for a while. it was awful.
Lincoln did the same thing.
there was a time when a Lincoln LOOKED like a Lincoln, T-Birds too, etc.