How big of an impact did Lee Iacocca have on the American automotive industry?
He helped create an entire genre of vehicle known as the pony car. He developed the iconic Ford Mustang, made the minivan a mainstay of main streets, and was responsible for keeping an entire company afloat when he saved Chrysler from bankruptcy.
Iacocca passed away on July 2 at the age of 94.
Lee Iacocca began working for Ford in 1946 and was instrumental in the development of the Ford Mustang. He rose through the ranks and became president of Ford in 1970. He was fired in 1978 before taking over as Chrysler’s CEO in 1979. After saving the company from bankruptcy, he made Chrysler profitable again by overseeing the development of more fuel efficient vehicles, making the minivan a desired option for families, and acquiring American Motors and its Jeep line.
Iacocca retired in 1992.
You can learn more about Lee Iacocca and his passing here: https://www.cnbc.com/2019/07/03/lee-iacocca-auto-industry-icon-dead-at-94.html