You have to factor in that trucks come with a lot of things now that reflect the change in use of most light trucks that has occured since 1937, too -- all of which have driven up costs.
In 1937, light trucks (1-ton and smaller) were strictly work and farm use. Only occasionally driven and even at that, mostly for work, not leisure. Look at how our trucks were appointed coming off the assembly line... no carpet ... rubber floor mat ... no radio. And look at the few options -- p-side wiper ... p-side mirror ... radio ... dealer-installed turn signals ... incab heater ...
Compare that with how base model trucks come off the assembly line today and what options you can get.
In 1937, you drove a truck because you had to. They weren't stylish. They weren't comfortable. They drove like ... trucks. The moment you could, you parked it. Washed up and got in a car lest anyone think you a "working man" or a farmer ... or ... poor.
Illustration of my point -- I have a brother in law who was a salesman for a major fire protection equipment company. He drives around all day with a load of fire extinguishers and other day to day stuff associated with his sales and support. To do this, he has a nice company vehicle -- a Chevy 1/2-ton with a bed cover. The truck has all the ammenities you'd want for a day spent on the road (5 days a week). In 1937, he would have driven a "Business Coupe." Even if your body could stand riding a daily circuit in a truck of the period, just showing up in one would not be impressive to a potential customer -- he'd think you were there to fix the plumbing or something.
Trucks today ... well, I doubt I need to go over modern trucks. Look at the 40-somethings who have white collar jobs who buy duallie pickups just because they want to look manly ... or cool... And look at how they are equipped ... basically Lincoln Navigators with big open trunks. Carpeting ... Sat radio and navigation ... cruise control ... integrated phone ... power windows, leather heated seats ... parking assist (how utterly girlie is THAT??). Sorry, but if you need parking assist to park your 1/2-ton truck ... get out and ask your mom to park it for you (and start working on your man bun ...).
Try finding a light truck anymore with a manual transmission ...
My point being, not that any of you asked or probably even care, is that its hard to compare 1937 truck prices to 2022 truck prices unless you somehow account for the vast changes in usage. Seems to me, the modern market place (for light trucks) is responding to a demand for cars with a few additional capabilities and that look more macho than just a car.
Which is probably why, at least in North America, the whole El Camino thing didn't work out -- It still looked too much like a car.
In 1937, a truck was a truck was a truck.
In 2022 ... there are no trucks as we know them.
Ergo -- difficult, at best, to draw meaningful comparisons. BUT ... after saying all that
... If you *could* order a 1/2-ton without all the girlieman nonsense (i.e., just a basic truck for work), I bet after factoring inflation, the prices might be a little more similar...