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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.

Hertz Penske GT latest hot Ford Mustang at the rental counter

Just a couple days after announcing the resurrection of its Rent-A-Racer program, Hertz has revealed a new car being added to its Adrenalin Collection of rental cars. To signify its new partnership with Penske Racing in NASCAR, Hertz introduced a limited-edition version of the Ford Mustang GT, officially called the Hertz Penske GT, at last weekend's NASCAR races in Daytona. If you're like us, the rental specials remind with the original 1966 Shelby GT350-H and its later homage, the 2006 Shelby GT-H.
Visually, the Hertz Penske GT starts out with a black and yellow paint and graphics scheme as well as identifying badges, and Hertz has raided the Mustang parts bin for bits and bobs like a Boss 302 front splitter and Shelby GT500 rear valence to give the coupe its own unique look. The model has also receives performance improvements including upgraded suspension and exhaust, Brembo brakes, a retuned ECU and Recaro bucket seats. As a bonus, Penske Racing's Nationwide Series No. 22 Ford Mustang has been painted to match the new Hertz Penske GT. Other cars in the Hertz Adrenaline Collection include the standard version of the Ford Mustang GT, Chevrolet Camaro SS, Chevrolet Corvette convertible and Dodge Challenger R/T. Scroll down for the official press release for the Hertz Penske GT, or you can always head to your local Hertz airport location to see if they have one on the lot.

Ford Shelby GT350 Mustang to cost $52,995?

The 2015 Ford Shelby GT350 Mustang was one of the shining stars of this year's Los Angeles Auto Show. And the Blue Oval's latest muscle car might even have reason to burn a little brighter if a recent rumor about its price proves true. Best of all are rumors that an even more potent version of the Shelby is potentially on the way. According to Horsepower Kings citing unnamed Ford sources at the LA Auto Show, the 2015 GT350 carries a starting price of $52,995, and the Tech package adds a further $2,995 on top of that. There's also the claim of a Track package for an undisclosed price. However, it doesn't look like LA is the last we'll see of the newest Shelby because the source also alleges that a top-rung GT350R is under development with bigger brakes, modified aerodynamics and sportier tires. This rubber-burner is reported to be unveiled at the North American International Auto Show in Detroit in January. Assuming these claims are correct, it puts the Shelby in fighting form against its two Chevrolet Camaro rivals. Ford reports that the GT350's 5.2-liter V8 pumps out over 500 horsepower and more than 400 pound-feet of torque. At $52,995, it would undercut by a couple of grand the $55,505 (before destination) base price of the 580-hp 2015 ZL1. The super 'Stang might also beat the 505-hp Z/28 with its power rating, while being vastly cheaper than the track-focused Camaro's $72,305 price. This could be quite the performance shoot-out.