Word: mustangers
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Dates: during 1960-1969
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Legend & History. Durham and Jones tell their tales well. One of the most fascinating stories concerns a Negro named Bob Lemmons. Bob was one of a tough group of men who made their living capturing wild mustangs, but Bob's method was unique. He would follow a herd of mustangs alone for days, until they began to accept him as part of the group: "I acted like I was a mustang. I made the mustangs think I was one of them." When the herd was completely in his control, Bob slowly led them straight into the waiting corral...
...Niche. Among the industry's 33 name plates, the most spectacular performer in January was Ford's sporty Mustang, which carved out 5.1% of the market although it was introduced only last April. Another newcomer, Chrysler's fastback Barracuda, established a 0.6% niche for itself. Plymouth made an impressive improvement over its January 1964 market share, adding; 1.5%. Buick won an additional 0.8%, Tempest and Chrysler 0.6% each, standard Ford 0.5% and Mercury 0.4% -all at the expense of the compacts and the cars with only modest styling changes, which continued to be the biggest losers. Because...
Detroit's hottest automaker, as a result, is Ford Division General Manager Lee Iacocca, 40 (TIME cover, April 17), who not only fathered the Mustang but ran his division so well that Ford in 1964 ate heavily into Chevrolet's predominant share of the middle-priced auto market...
Last week Iacocca got his reward. Piling his personal gear into a bright red Mustang, he sped the half-mile from his office to corporate headquarters in Dearborn, where he moved into the vacant office of group vice president, Iacocca, an executive noted for his hard salesmanship, will not only be in charge of all Ford cars and trucks -accounting for 80% of the company's sales-but of Ford of Canada and Lincoln-Mercury...
Into Iacocca's place as division vice president-general manager will move a man who also has been intimately involved in the conception and success of the Mustang: Assistant General Manager Donald Nelson Frey, 41, who engineered the Mustang from its beginning as the division's product planner. An assistant professor in metallurgy at the University of Michigan before he joined Ford in 1951, Frey is Detroit's most uncommon auto executive, a sort of thinking man's automaker. He speaks Russian and French, is an opera and archaeology buff, reads such publications as Red China...