Word: mustangers
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Dates: during 1960-1969
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...With the Mustang, Ford clearly has a big lead among the new breed. But the market for an inexpensive sports car is potentially so enormous-particularly since nearly one in every five households now shops for a second car -that Ford's competitors have no intention of leaving it to Lee Iacocca. Chrysler has already introduced a Valiant with a convex rear roofline-called a fastback in Detroit-and named it the Barracuda. American Motors is making a fastback version of its Rambler Classic, will bring it out next spring. When word of the Mustang first leaked out, General...
...impressive 12%, and its market penetration, as Detroit terms it, is gaining in a rapidly expanding market after several years of decline. So far this year, it is up a percentage point-to 26.2%-at the expense of G.M. and Rambler. This gain took place long before the first Mustang hit the showrooms, and Ford is counting on its 1964½ offering to accelerate the trend. If Ford sells those 400,000 Mustangs, it could raise its market penetration...
...People Side. As with the Mustang, much of the credit for whatever gains Ford can make with its new models belongs to Lee Iacocca. "I see this as the start of a new golden age for Ford that will make the peaks of the past look like anthills," he says. Iacocca has had a Ford in his future almost literally since birth...
Thus the most important selling job that Lee Iacocca did at Ford was to get the Mustang going. The project started quietly in January 1961 when Don Frey, a bright young engineer whom Iacocca had made his product planning manager, asked the advance styling department to draw up designs for a little sports car. When it produced a trim clay model of a little two-seater that looked like a rocket, Iacocca invited Grand Prix Driver Dan Gurney and other racing buffs in to give their opinions. Recalls Iacocca: "All the buffs said, 'What...
...Mustang," Lee Iacocca said at this week's premiere on the World's Fair grounds in New York, "Ford has actually created three cars in one." Aside from the basic $2,368 model (which is not so basic; it comes with bucket seats, padded dash, and leatherlike vinyl upholstery), anyone who wants to turn his Mustang into a little Thunderbird can load it with just about every luxury option Detroit has, from automatic transmission to a big V-8 to air conditioning. Finally, the sports-car purist who wants performance and more horsepower can spend...