Word: mustangers
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...most amazing success of an amazing auto year has been Ford's Mustang, an economical everyman's sports car that has run up 273,000 sales since its introduction nine months...
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...
...usual, there were both winners and losers even in a good year. Ford's highly successful Mustang, a quarter of a million of which have been sold since its introduction in April, helped boost the company's sales 9.6% and increase its share of the market from 25.6% to 27.8%. G.M.'s Chevrolet Division, the industry leader, which sold nearly a third of all U.S. cars a few years ago, actually suffered a 5% decline in sales, dropping to 28% of the market. Sales at American Motors, the compact company that has failed to share in Detroit...
...citizen since 1942, thomas Bata at 50 is one of the nation's most successful businessmen. He is also one of the most modest in his habits; he does not smoke, drinks sparingly, entertains mostly at business lunches, but allows himself the flair of driving a '64 Mustang. Bata alternates between his Toronto office and his principal manufacturing plant at Batawa, a small town 110 miles east of Toronto named after the company. He frequently wears odd shoes to test his own against competitors', stresses the low-price policy (no Bata shoes cost more than...