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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, GM to collaborate on 9- and 10-speed transmissions

Back in October, there were reports that General Motors and Ford Motor Company were hard at work co-developing new nine- and ten-speed automatic transmissions, and now both automakers have confirmed this joint operation. While there are no specific vehicles mentioned to receive either transmission, a collaborative press release issued by GM and Ford mention that the transmission will be designed for front- and rear-wheel-drive cars, crossovers, trucks and SUVs.
These aren't the first powertrain components developed jointly between these cross-town rivals, either. The six-speed automatic currently used in vehicles like the Ford Edge, Ford Fusion, Chevrolet Cruze and Chevrolet Equinox was engineered in a similar fashion. As is the case with this existing transmission, both automakers will assist in the design, development and testing of the new transmissions, but each will build its own units in its own factories. Scroll down for the official press release.

Ford shows off V8-powered Ranger headed to Dakar Rally

Avert your eyes now if you're jealous that the global version of the Ford Ranger is not offered in the US. Ford's midsize pickup is being tuned up to take on the 2014 Dakar Rally, and the result is a truck that is probably even cooler than any F-150 SVT Raptor we've ever seen in the States. Ford is actually building two versions of the truck for Dakar, which will run from January 5 through January 18, covering more than 5,000 miles from Argentina to Chile.
Starting with a fully composite body and a 5.0-liter V8 plucked from a Mustang, nearly every aspect of the trucks have been purpose built to take on the grueling race. This includes things like the six-speed sequential gearbox, liquid-cooled rear brakes and the 132-gallon fuel tank. As proof that Dakar is more about endurance than speed, the engines used in these race trucks will be limited to around 350 horsepower and 413 pound-feet of torque, and will max out at a top speed of just 105 miles per hour. Scroll down for Ford's official press release offering more information about the trucks and teams being prepped for Dakar.