Ford Mustang Creator Lee Iacocca Dies at 94
Lee Iacocca, the designer of the famous Ford Mustang, died on Tuesday, July 2, at the age of 94, Los Angeles Times wrote citing a family spokeswoman.
Iacocca spent the last few years of his life in Los Angeles. He died Tuesday morning at his Bel-Air residence from complications of Parkinson’s disease.
A legend of the automotive industry, Iacocca will be remembered for creating a national best-seller Ford Mustang, first introduced in 1964. The model set a U.S. record of 418,812 cars sold in the first 12 months after its launch and became one of the most recognizable Ford models. Nowadays Ford Mustang has six iterations, with the most current one launched in 2015.
After 24 years in the company, Iacocca was fired by the successors of Ford’s empire. He then took the president’s chair in Chrysler and saved the brand in the 1980s by getting a loan from the U.S. government and reshaping the concern’s policies.