Great looking truck. The reported 2"W figure of the model would be a strong indicator that the model is indeed a true 1/48 scale. For 1/48 scale, 2"W = 8'-0"W prototype dimension, which would be the overall width limit of a full-size commercial truck, and is usually the bed or the box on back of the truck.
A few other dimensions that might confirm true 1/48 scale: The width across the model's front fenders should be right around 1-7/8" to 1-15/16". The outside diameter of the model's tires should be right around 3/4" dia. to 13/16" dia. Of course, somebody will obviously have to confirm these dimensions with the model in hand.
1950's-era purists might find one major flaw with the truck - that being the 10-lug chrome or aluminum rims on the truck. Commercial medium-duty trucks in the 1950's were pretty utilitarian, and had almost no major parts that were chrome-plated or aluminum/magnesium, like a lot of modern day commercial trucks do. Instead, the rims would have been 5-bolt steel (or 6-bolt at the most), and in most circumstances painted a glossy black.
The "Menard's" decorating scheme seems a little too 'newish' for a 1950's era vehicle. I'm almost thinking the scheme would be more believable for maybe the 1970's at the very earliest, and maybe even later than that. But that's probably just a personal preference thing, and repainting and redecorating the truck wouldn't be very hard at all, in my opinion.
Regardless, this is still a great looking truck, and if it's anywhere from 1/43 scale to 1/50 scale, I'm definitely in for at least a few! 
