2003 Ford Mustang Svt Cobra Convertible 2-door 4.6l 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.

Ford, Volvo top 2014 EyesOn Design awards

Each year at the Detroit Auto Show, the top vehicle designs are recognized with the prestigious EyesOn Design award for production and concept vehicles. This year, the 32 EyesOn Design judges (comprised of current and former vehicle designers including Chrysler designer and SRT president Ralph Gilles, Kia designer Peter Schreyer and retired General Motors designer Wayne Cherry) handed out three awards for the Best Concept Vehicle, Best Production Vehicle and Innovative Use of Color, Graphics, and Materials.
Beating out the Mercedes C-Class and Ford F-150, the 2015 Ford Mustang was named the Best Production Vehicle as the top auto show debut at this year's Detroit show. The 2014 Volvo Concept XC Coupe took home awards as the Best Concept Vehicle and for its Innovative Use of Color, Graphics and Materials.
Considering the Volvo's primer grey hue and subtle orange accents, it was a rather surprising winner for Innovative Use of Color, Graphics, and Materials over flashier concepts like the Toyota FT-1 and our Editors' Choice top pick, the Kia GT4 Stinger. Other vehicles in the running for the concept car award include the GT4 Stinger and Audi Allroad Shooting Brake

Ford posts decade-best $2.1B profit in Q1 2013

As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford's companywide profit for Q1 was down $147 million from one year ago, while the net income number marked an increase of $215 million year over year. Overall, this is Ford's 15th-consecutive profitable quarter.
The bad news from the European market was even worst in Q1 2013 than it was last year. Pretax losses of $462 million - on revenue of $6.7 billion - represented a year-over-year change of -$313 million. In South American, the company reported a loss of $218 million, down from a slim profit of $54 million in Q1 2012. The news was better for Ford Asia Pacific Africa, where a $6 million pretax profit in 2013 showed a year-over-year gain of some $101 million when compared to losses in 2012. Scroll down to read Ford's full press release.