1991 Ford Bronco Silver Anniversary Bronco on 2040-cars

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Jay Leno and Lee Iacocca reflect on 50 years of Ford Mustang

Lee Iacocca oversaw the birth of the Ford Mustang back in the 1960s, rocketing the new pony car nameplate into million-unit sales territory in its initial go-round and cementing its place in the history books. Thus, we were immediately drawn to this latest episode of Jay Leno's Garage, in which the funnyman hosts Iacocca for a look at the origins of Ford's most iconic sports car. The legendary auto exec is looking notably more frail than when we last saw him, but if we're being asked around as a video guest when we're 89 years old, we'll consider that evidence of a life well lived.
Serial No. 0001 is on hand for the occasion for Jay's romp through history, as is the historic Mustang 1 showcar from 1962. Of course, the all-new 2015 Ford Mustang GT (in prototype form) makes an appearance at the end of the episode with chief engineer Dave Pericak, as well. Get some, below.

1947 Chevy rat rod pickup leaves rubber and smoke in its wake

Cool comes in multiple flavors. One one hand, we have the sophisticated attraction of svelte design and the efficient use of power. Of course, on the other hand there is the allure of being the bad boy and going against the grain. That is part of the appeal of rat rods. Ideally, they are built without rules to an owner's specific tastes, and this widened and heavily modified 1947 Chevrolet pickup rod is a perfect example of that spirit.
Coming down the highway with a bent grille, rusted body and pouring smoke, it looks like the pickup from hell. It backs up the looks with some very impressive mechanicals too. Owner Troy Gubser says that the truck packs a Ford Power Stroke diesel with to 42 pounds of boost that runs out of 8-inch exhaust stacks at the back. He claims it managed 505 horsepower and 885 pound-feet of torque on the dyno. To harness all that power, this hot rod has a ZF five-speed manual gearbox with a ceramic clutch and short-throw shifter. Plus, it has cool little features like a doorbell on the tailgate that operates an air horn.
You might not expect a truck like this to actually be useful, but it has a fifth wheel coupling to haul an RV around drag races and car shows. The air suspension also probably keeps the ride fairly comfy when Gubser wants it to be. Scroll down to check out this beastly rat rod pickup and watch it engage in some diesel drag racing. Warning, there is some NSFW language.

Pickup prices rising at 2x industry average

We've said it before, but bears repeating: Pickup trucks are the financial engines of America's automakers. Good thing, then, that the segment is in rude health - in fact, Automotive News is suggesting that pickup truck sales are arguably healthier than they were pre-recession, even though the segment's volume is still significantly down from where it was before the bottom fell out of the US economy. That's because per-unit profits on full-size trucks are skyrocketing, outpacing the industry's average price increases by more than double since 2005. According to data from Edmunds, the average transaction price of a full-size pickup is now $39,915 - a heady increase over the $31,059 average price in 2005 - a gain of over 8 percent after inflation is factored in.
Just how important are trucks to automakers' bottom lines? Automotive News quotes a Morgan Stanley analyst as saying the Ford F-Series is responsible for 90 percent of the company's 2012 profits, and General Motors isn't far behind, with the Chevrolet Silverado and GMC Sierra twins chipping in about two-thirds of the automaker's earnings.
Automotive News points out that Detroit's automakers now have the money to invest in modernizing their full-size truck offerings, in part because they don't have the same overhead and legacy costs that pushed General Motors and Chrysler into bankruptcy. Certainly, the pickup segment has seen a lot of innovations as of late, including turbocharged V6s, coil-spring rear suspensions and active aero. Those improvements in important areas like fuel economy and ride comfort have given existing pickup buyers new reasons to upgrade. In addition, automakers are piling on the tech and luxury goodies, creating more and more high-content, high-profit models like the Ford F-150 King Ranch, Ram 1500 Laramie Longhorn and Chevrolet Silverado High Country (shown).