Back in the days of yore, car radios had one connection for the speaker and the other side of the speaker went to the car body. Sometimes, the radio had two connections – the second being connected to the radio chassis, which in turn was connected to ground. There were variations on the theme as some aftermarket radios were capable of being used with either positive or negative ground cars, and, therefore, the speaker was connected to the connectors provided on the radio. I have one of these in my collection – the radio can work from either 6V or 12V, positive or negative ground.
In an older radio, there are basically three sections – the power section, tuner and the amplifier. The power section usually consisted of nothing more than a simple filter. The amplifier was only capable of producing a small amount of power, usually 3 to 5 watts. Component technology of the time and other design considerations made higher outputs impractical. The output of the amplifier is referenced to ground.