Wikipedia article on the Budd Company
From that article:
"In 1978, as Budd began to phase out its railcar business to concentrate on the automotive industry, it was acquired by Thyssen AG, becoming its automotive division, Thyssen Automotive in Europe and Budd Thyssen Company in North America. The CTA 2600 series cars were finished in 1987, and were the last railcars to be built by Budd before its railcar business was shut down altogether that year."
Diesel Multiple Unit (DMU) cars are not a concept gone by the wayside. In the US, EMU (Electric MU) is more common. SEPTA's regional rail, as well as the Long Island Railroad and ConnDOT come to mind as the most notable users of EMU equipment.
A likely reason DMU trains are not more common in the US is that FRA rules are more stringent to locomotives than they are to blind coaches. Cab Cars are considered locomotives and require more frequent inspections and are held to higher maintenance standards. This explains the 25 deactivated control cars on the T's Commuter Rail system.