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Lee Iacocca: A Detroit legend's hits and misses

According to Motor City legend, Iacocca created the Mark III by directing a designer to "take the Thunderbird and put a Rolls-Royce grille on it." The Mark III embodied all of Iacocca's styling excesses including a padded vinyl roof, porthole rear side windows, and pseudo-spare tire bulge in the trunk -- and it was enormously popular. One writer called it "far-fetched and vulgar, a two-seater sports car stretched to the length of a limousine," but Iacocca claimed Ford made a profit of $2,000 per car."

NEXT: Ford Pinto, 1971-1980

By Alex Taylor III @FortuneMagazine - Last updated October 23 2012 10:22 AM ET

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