In late March and early April 1964, Life, Look, Business Week, Esquire, Sports Illustrated and The Wall Street Journal, as well as every buff book and car magazine, included feature stories about the all-new Mustang.
In 1956, his "56 for $56" campaign, advertising that buyers could purchase a new 1956 Ford for only $56 per month, caught the attention of senior management. Robert McNamara, then vice president of Ford Division, summoned him to Detroit. Once there, Iacoccas sales savvy soon helped him lap everyone else on the executive fast track. In 1960, Ford chairman Henry Ford II promoted him to Vice President and General Manager of the Ford Division.
The official press release announced, "Styling and features of expensive European road cars are combined with American mass-production price, compact economy and traditional Ford quality in the Mustang - a new line of cars from Ford Division of Ford Motor Company."
After months of debate, it was decided that the image of the galloping horse best represented the free spirit of the car and its intended buyers. To further drive home the message, the galloping horse on the Mustang logo is shown running the opposite way that trained racehorses run around a track.
After a number of presentations to Ford board members, the first prototype 1962 Mustang I was produced. It was a mid-engine two-seat roadster, named after the legendary World War II P-51 Mustang fighter plane. On October 7th 1962, race driver Dan Gurney drove the Mustang I prototype over the U. S. Grand Prix course at Watkins Glen, New York.
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