Former colleagues say ex-Chrysler CEO Lee Iacocca has died at age 94 in Bel Air, California.
DETROIT — Lee Iacocca, the auto executive and master pitchman who put the Mustang in Ford’s lineup in the 1960s and became a corporate folk hero when he resurrected Chrysler 20 years later, has died in Bel Air, California. He was 94.
The son of Italian immigrants, Iacocca reached a level of celebrity matched by few auto moguls. During the peak of his popularity in the ‘80s, he was famous for his TV ads and catchy tagline: “If you can find a better car, buy it!” He wrote two best-selling books and was courted as a potential presidential candidate.
When the banks turned him down, Iacocca and the United Auto Workers union helped persuade the government to approve $1.5 billion in loan guarantees that kept the No. 3 domestic automaker afloat. The strategy worked. The boxy K-cars — the Dodge Aries and Plymouth Reliant — were bland, basic transportation. But they were affordable, fuel-efficient and had room for six. In 1981, they captured 20% of the market for compact cars. In 1983, Chrysler paid back its government loans, with interest, seven years early.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lee Iacocca dead at 94, father of the Ford Mustang, later rescued ChryslerLee Iacocca, an ambitious immigrant's son and salesman extraordinaire, dominated the automobile industry like nobody since Henry Ford.
Read more »
Auto industry icon Lee Iacocca is dead at 94Iacocca led the turnaround of Chrysler and was closely associated with at least three iconic vehicles, including the Ford Mustang, the K-Car, and minivans.
Read more »
From the Mustang to the minivan, auto legend Lee Iacocca is dead at 94Iacocca was one of the most powerful — and best known — executives in the automobile industry, rising to become president of Ford Motor before leading a turnaround at Chrysler.
Read more »
Lee Iacocca, auto executive who saved Chrysler from bankruptcy, dies at 94Lee Iacocca, charismatic U.S. auto industry executive who saved Chrysler from bankruptcy, dies at 94 by TrottReuters
Read more »
Former Chrysler CEO Lee Iacocca has died at age 94DETROIT (AP) — Former colleagues say ex-Chrysler CEO Lee Iacocca has died at age 94 in Bel Air, California. Iacocca was a master pitchman. He put the Mustang in Ford's lineup in the 1960s....
Read more »