We've been tipping our hats and paying our respects to great Ford executives. How on earth could we ever forget Lee Iacocca?
We've been blogging memorable and significant Ford executives who've made a positive difference because we've never wanted them to be forgotten. It can safely be said Lee Iacocca is the most memorable Ford executive in history because he brought so much to the table.
As a young Ford sales and product planning type in the 1950s, Lee Iacocca had a lot to learn. He also had a lot to contribute. Under Robert McNamara's direction in those days, we're convinced Iacocca couldn't wait to make a really big contribution. McNamara was all about function and practicality hence the affordable and practical Ford Falcon in 1960. Falcon was a hugely successful Ford nameplate that outsold all American compacts that year. However, it lacked a sporty image. It also needed a V-8. Iacocca noticed...
Iacocca saw Ford's stodgy image and knew things could be a whole lot better. Ford needed a performance image - sporty, let your hair down, devil may care. As luck and timing would have it, McNamera left Ford to join the Kennedy Administration in 1961. Good for McNamara. Even better for Iacocca, who took charge of Ford Division.
Iacocca's first order of business was to infuse adrenaline into the Ford line-up. He spearheaded "Total Performance" - which stuck and made a lasting impression that would send shockwaves all over the world of motorsports.
Under Iacocca's leadership, Ford would embarrass Ferrari at LeMans not once - but three times. This is something that had never been done by an American automaker - nor has it been done since by anyone but Ford Motor Company. Without Lee Iacocca's vision, and Henry Ford II's fierce determination to beat Enzo Ferrari at his own game, Ford never would have gone to LeMans.
There's this back story about Henry Ford II and Enzo Ferrari. Seems Ford wanted to buy Ferrari. They came close to striking a deal when Ferrari backed out. This turn of events infuriated Ford, who became very determined to campaign a Ferrari-beating super car known as Ford GT-40.
Second order of business for Iacocca was the Sporty Ford Car Project known as T-5. Off-site meetings, imagination, and a huge commitment to an idea enabled Iacocca to amass a team of people who conceived Ford Mustang. In just 18 short months, Iacocca and Team Mustang got this sporty car to market just in time for an introduction at the 1964-65 New York World's Fair. It goes without saying Mustang exceeded all expectations. Plans were to build 100,000 units. Ford wound up building 600,000.
And lets not forget Mustang's heated ability to beat Corvette and the rest in SCCA B-Production competition during the 1960s. Carroll Shelby and his team took he Falcon-based Mustang and made it competitive - leaving a lasting impression that lives with us today.
Lee Iacocca's success has always been about good timing - and following baby boomer trends. In the wake of the Mustang's screaming introduction and sales success came Maverick on April 17, 1969 - Mustang's fifth anniversary. Ford's practical and sporty new Maverick outsold Mustang in 1970. Why? Because it was perfectly timed with a $1995.00 base sticker price - cheaper than Volkswagen's Beetle - just in time for baby boomers headed to college.
On the heels of Maverick came the redesigned 1974 Mustang II. Although Mustang II gets its share of raspberries and tomatoes from Mustang traditionalists, sales were phenomenal - the right car at the right time.
Iacocca's last hurrah at Ford was the all-new Fox-body 1979 Mustang before he and Henry Ford had a serious falling out in 1978. Iacocca was fired. A year later, Lee Iacocca would join a faltering Chrysler Corporation and bring us something Henry Ford had no use for - the minivan. In 1984, Chrysler would introduce the minivan to receptive baby boomers who were starting families. Iacocca became best known for his straight talk Chrysler commercials where his trustworthy face and approach to car sales paid off. With help from very committed people, Lee Iacocca saved Chrysler.
Lee Iacocca also rallied to save historic national landmarks - the Statue of Liberty and Ellis Island. He has also gone to bat for diabetes in a huge way, raising funds for diabetes research.
These days, Lee Iacocca takes it easy and invests time in things he's passionate about. Well into his eighties, he remains busy and in demand. The 2009-10 Iacocca Edition Mustang has been a huge success and reminded us all a guy like Lee Iacocca comes along only once in a lifetime. We are fortunate to know him and to have been in his good company.
Salute! Lee Iacocca - father of the Mustang and so much else. We're thinking about you here at Mustang Monthly.