Varney Scale Models (1936-1960) founded by Gordon Varney in Chicago, IL was an early HO Scale railroad train model manufacturer noted for above average detail & quality.
Varney also produced scale auto models some "pantographed" from National Products pot metal promotional models notably the 1949 Ford F-1 Pickup, Panel & Stake Trucks & 1953 Customline Fordor Sedan in 1954, memories of latter my possibly having "owned" & played with in the mid-1950s.
According to CollectAir.org, Varney's 1/48th yellow cellulose acetate PT-17 Kaydet in 1946 is credited, but not entirely undisputed, as having been the first "all-plastic" scale model on the U.S. market well as the first advertised in model magazines, a full page ad appearing in the May 1946 edition of Air Trails.
The CollectAir image below shows what appears to be a modern PT-17 reproduction of the Varney kit. I'd question the literature as having been produced before 1950, maybe later 1950s: