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Introducing the 1965 Ford Mustang

Put on your space suits and diving bell helmets, for it's time to step into a time capsule. The 50th anniversary of a historic model, like, say, the Porsche 911 this year, is certain to bring flights of nostalgia. This historical trip with the 1965 Mustang, though - preliminary hype for next year's anniversary, we know - is a swell museum exhibit for anyone who enjoys bygone days of the automobile.
Lee Iaccoca gave a speech to motoring journalists on April 1, 1964 at the New York World's Fair to introduce a sporty car for younger drivers. His opening line: "Good morning, ladies and gentlemen. Welcome to one of the proudest moments of our lives." The company was so excited by what it had made that the Mustang was Ford's first "International Press Introduction," being introduced to some 2,000 journos around the world on the same day in the US and 11 European cities. Even through its difficult points, no one at the time could have known how well the Mustang would acquit that pride.
After the intro, the press drove Mustangs 750 miles from New York to Dearborn, MI, reading press kits that touted features like the "vertical, three-sectional taillights/turn signals," "170" six-cylinder engine with 101 horsepower and the available Cruise-O-Matic transmission.

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

2013 Shelby 1000 unleashes its 1,200 horsepower ahead of NY show reveal

True story: Last fall, I had the opportunity to spend a week with Ford's new 2013 Shelby GT500 - the Blue Oval's factory Mustang with 662 horsepower and 631 pound-feet of torque. It's an amazing beast, to be sure. I'm not sure if it was Michigan's damp streets strewn with potholes and wet leaves, but at no point did I ever say to myself, "You know, Ford is on to a really good thing here, but what it really needs is about twice the power." And yet, for people in warmer climes with infrastructure in better nick - or for those whose muscle cars live their lives out on the track, there's apparently sufficient demand to warrant just such a beast.
Quick studies will recall that Shelby American launched its 1000 last year to commemorate its 50th anniversary, but it is returning to the New York Auto Show with a fresh version based on the 2013 GT500 I drove. The 2013 Shelby 1000 whips up 1,200 horsepower on pump gas thanks to beefed-up forced induction, engine internals and cooling. Wisely, it also incorporates an adjustable suspension and big brake package to make sure those ponies have the best chance being safely deployed to the ground.
What price the world's most powerful "production" muscle car? $154,995 for starters - donor GT500 not included. What, no convertible variant?