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Junkyard Gem: 1973 Mercury Marquis Brougham 4-Door Pillared Hardtop

Ford's Mercury Division debuted the Marquis in the 1967 model year, as a sporty coupe based on a stretched Ford LTD chassis. When the LTD got an update for 1969, so did the Marquis, and production of that generation of the top-of-the-line Mercury continued through 1978 (the Grand Marquis hit streets the following year). The 1969-1978 Marquis was a big, imposing land yacht, and the Brougham version came absolutely loaded with affordable luxury. Today's Junkyard Gem is a Marquis Brougham from the first year of the Malaise Era, found in a Phoenix self-service car graveyard recently. This car appears to have spent decades sitting outdoors in one of the harshest climates in the country, and so it's in rough shape. The vinyl top received the full thermonuclear treatment and is mostly obliterated by now. The interior got thoroughly cooked as well. Still, its original opulence shines through if you use some imagination. What hurts is that this car was packed with most of the good options, including the mighty 460-cubic-inch (7.5-liter) V8 engine with four-barrel carburetor. The price for the 460 was just $76 in this car, or around $548 in today's money. The base engine was a 429 (7.0-liter). Power numbers were way down for 1973 when compared to a couple of years earlier, partly as the result of tightening emissions standards but mostly due to the switch from gross to net power ratings that began midway during 1971 and was completed by the end of 1972. This engine was rated at 202 horsepower and 330 pound-feet. The only transmission available was a three-speed automatic. We can assume that the original buyer of this car and its single-digit fuel economy had a rough time when the OPEC oil embargo hit in the fall of 1973. Believe it or not, air conditioning was not standard equipment on the '73 Marquis Brougham (you had to move up to a Lincoln for that). This one even has the automatic temperature control feature, adding a total of $508 to the cost of this car (about $3,661 in 2023 dollars). That AM/FM/8-track radio—or, in fact, any radio—was an extra-cost option as well, with a price tag of $363 ($2,616 after inflation). The MSRP for the 1973 Marquis Brougham sedan (known as a "pillared hardtop" thanks to the frameless window glass) was $5,072, which comes to $36,555 in today's dollars. Obviously, its out-the-door cost would have been much higher with all the options.

It's Official: Ford Names Mark Fields Its Next CEO

Alan Mulally, the man who transformed Ford Motor Co. from a dysfunctional money-loser to a thriving company, will retire July 1 and be replaced by Mark Fields, the current chief operating officer. During his eight-year tenure at Ford, Mulally gambled all of the company's assets on a credit line that kept Ford out of bankruptcy, then used a simple "One Ford" plan to change the company's culture. He was hired away from aircraft maker Boeing Co. in 2006 by Bill Ford, who at the time was running the company. Fields, 53, has been in charge of Ford's daily operations since December of 2012 and was widely expected to one day ascend to the top job. The change in leadership is taking place about six months ahead of schedule, but Ford said that was based on Mulally's recommendation that the new leaders were ready. "Alan and I feel strongly that Mark and the entire leadership team are absolutely ready to lead Ford forward, and now is the time to begin the transition," Bill Ford said in a statement Thursday morning. Bill Ford, the company's executive chairman, is the great-grandson of company founder Henry Ford. Mulally, 68, was trained as an aeronautical engineer. He spent 36 years at Boeing - and was president of the company's commercial airplane division - when Bill Ford lured him to the struggling automaker eight years ago. Mulally overcame skepticism about being an outsider in the insular ranks of Detroit car guys by quickly pinpointing the reasons why Ford was losing billions each year. Mulally put a stop to the infighting that had paralyzed the company and instituted weekly management meetings where executives faced new levels of accountability and were encouraged to work together to solve problems. It took two years for Mulally to turn the company around, but since 2009, Ford has posted pretax profits of $34.5 billion and its shares have more than doubled. Fields was one of the executives passed over when Mulally got the top job in 2006. When he was named COO in 2012, Bill Ford said Fields' decision to stay at Ford and learn from Mulally showed a lot of fortitude and has made Fields a better leader. "There was a lot of speculation about whether he was capable. To his great credit, he stuck to it, he learned from it and showed tremendous fortitude in grinding through an incredibly difficult process," Bill Ford said. This marks the second change in leadership at the top of one of the Detroit automakers this year.

New car market raining on convertibles' parade

Whether fitted with soft or hard folding lids, today's droptops are better than ever for year-round motoring. Advancements in power top mechanisms, sealing, aerodynamics, structural rigidity, rollover safety and creature comforts like heated and cooled seats mean that modern convertibles are more versatile and better to drive than ever before. Yet the segment's sales took a dive during the recession and haven't come back, Automotive News reports.
Part of that is because automakers are looking at today's more sensible buyers and simply not developing as many new models, and that lack of fresh iron is curbing sales. AN cites R.L. Polk data which notes that only about one percent of new vehicles registered in the US last year had tops that folded. Back in 2009, it was 1.4 percent, and it was 2 percent in 2006. All-in, some 151,636 convertibles were registered in 2012. That's more units more than were registered in each of the past three years, but the market has also grown as the economy has picked up speed, and as a percentage of new vehicles purchased, convertible sales are lagging.
Thus far in 2013, the Ford Mustang is America's top-selling convertible, with 6,421 units registered through the end of April, followed by its rival, the Chevrolet Camaro, at 4,751 units. The Volkswagen Beetle isn't far behind, with 4,305, but from that point, it's a steep drop off to the fourth-place Mercedes-Benz SL-Class and its 2,380 sales.