Auto industry icon Lee Iacocca dies at 94


Lee Iacocca, the auto industry leader known for helping develop the Ford Mustang in 1964 and rescuing Chrysler in the 1980s, died Tuesday in Los Angeles. He was 94.
The son of Italian immigrants, Lido Anthony Iacocca was born Oct. 15, 1924, in Pennsylvania. After graduating from Lehigh University, Iacocca began working at the Ford Motor Company in 1946, and made history when he helped create the Mustang; Ford sold a record 418,812 Mustangs during the model's first year. He became president of Ford in 1970, before being fired by Henry Ford II in 1978.
He took over Chrysler while it was on the brink of bankruptcy, and turned the company around. With Iacocca at the helm, Chrysler introduced the minivan, and he appeared in the company's commercials, saying, "If you can find a better car, buy it." Also a best-selling author, Iacocca was approached several times and asked if he would consider running for president or senator, but always said he was too blunt for politics. He is survived by two daughters and eight grandchildren.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Cytomegalovirus can cause permanent birth defects
The Explainer The virus can show no symptoms in adults
-
Summer in Seattle: Outdoor dining like nowhere else
Feature Featuring a patio with a waterfront view, a beer garden, and more
-
Ari Aster revisits the pandemic, Adam Sandler tees off again and Lamb Chop gets an origin story in July movies
the week recommends The month's film releases include 'Eddington,' 'Happy Gilmore 2' and 'Shari & Lamb Chop'
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off