His masterpiece: the Mustang

Without imagining that he would create a legend, he conceived one of the most successful automobiles that Ford has ever manufactured, the Mustang, a sporty-looking car that was sold at an affordable price and was a success not only nationally but also worldwide. Due to his enormous intuition about consumer tastes, he asked the designers to build not the best, but the cheapest sports car. Americans didn't want the sports car engine so much as the looks.[12]​ Ford offered consumers excitement and a stylish look at an extremely reasonable price. The Mustang sold more in its first year (1964) than any other Ford car, breaking all sales records.

In 1970 he was already president of the Ford company. He also directed the creation of the controversial Ford Pinto.[13] As president of the Ford Motor Company, he had frequent disagreements in crescendo, including incorporating Japanese technology, with the heir Henry Ford II, being ignominiously fired on July 13, 1978 after 32 years of successful management, despite the fact that the company recorded a profit of 2 billion dollars in its coffers for that year.

Career at Chrysler

After leaving Ford humiliated, John Riccardo, then president of Chrysler, saw the life of the company slipping through his fingers. Since he didn't have much to lose, he called him and gave him full powers. Iacocca rounded up some of his former Ford colleagues, closed unproductive plants, made mass layoffs, and set his salary at one dollar a year.

It launched a range of new models, among which the Voyager stands out, the first minivan to hit the market. One of his last great successes was to put together a team that, after his retirement, led Chrysler to once again be a very efficient company.

Iacocca was hired as president and CEO of Chrysler Corporation, a company that was going through a bad situation; the quarter that was about to end alone showed a loss of 160 million dollars.[14] Iacocca paid all debts in less than five years, and turned the company's situation around. Its Dodge Caravan/Plymouth Voyager minivan, introduced in 1983, was one of the best-selling vehicles in the United States.[15][16]​.

It also introduced the "K" models, with four cylinders and with much lower fuel consumption than the standard automobiles, until then, which skyrocketed sales to impressive levels. The company had requested a grace period from its creditors, whom it surprised by canceling said debt ahead of time. During Iacocca's direction, the company, now solvent, began alliances with other large companies such as Mitsubishi, AMC, Maserati and Lamborghini.[17]​.

Chrysler led the automotive industry in sales for 25 years.[18] Throughout the 1980s, Iacocca, with the help of his long-time friend and advertising executive, Leo-Arthur Kelmenson, appeared in a series of commercials developed by Kenyon & Eckhardt for the company's vehicles, using the advertising campaign, "Pride is Back," to denote the corporation's turnaround.[19] He also voiced what would become his catchphrase. characteristic: "If you can find a better car, buy it."[20]​.

Iacocca retired at the end of 1992,[21] but remained on Chrysler's executive committee. He was the author of two books that continue to be bestsellers: Iacocca: an autobiography (1983) and Speaking clearly (1988). Lee Lacocca's autobiography, published in 1983, sold seven million copies in the US alone, spreading around the world, translated into six languages, and being the best-selling non-fiction book in 1983 and 1984. The magazines that interviewed him and put him on the cover were also eagerly sought after by readers.

Career at Ford Motor Company

Iacocca joined the Ford Motor Company in August 1946, after a brief internship in engineering, he accepted a move to sales and marketing, where his career would flourish. While working in the Philadelphia district as an assistant sales manager, Iacocca gained national recognition with his "56 for '56" campaign offering loans on '56 model cars with a 20% discount and $56 monthly payments for three years.[8] His campaign went national and Iacocca was called to national management in Washington, D.C. where he began to climb the ranks. On November 10, 1960, Iacocca was named vice president and general manager of the Ford Division, Washington, D.C., replacing Robert S. McNamara, who would serve as secretary of state in President John F. Kennedy's cabinet in January 1961. In January 1965, vice president and general manager of the truck group. In 1967, executive vice president and president in December 1970. Iacocca revolutionized the company, exuding charisma, leadership, and a powerful overwhelming self-esteem, contributing with his marketing ideas, devising new models. A significant factor in his opinion was his concern about imported automobiles, which increasingly encompassed the American market competing on fuel economy and quality. Likewise, he convinced the owners to promote the company in motorsports again.

On the other hand, those who were his direct employees considered Iacocca as a tough boss, excessively hard-working, confrontational and very demanding.[9]​.

Iacocca was involved in the design of several successful Ford automobiles, notably the Ford Mustang, the Continental Mark III, the Ford Escort, and the revival of the Mercury brand "Mercury (automobiles)") in the late 1960s, including the introduction of the Mercury Cougar and the Mercury Marquis. He promoted other ideas that did not reach the market as Ford products, including the cars that Chrysler eventually introduced: the K car and the minivan. Iacocca also convinced company boss Henry Ford II to return to racing, and he scored several victories in the Indianapolis 500, NASCAR, and the 24 Hours of Le Mans.[10]

Finally, he was appointed president of the Ford Motor Company, but had clashes with Henry Ford II. He was fired on July 13, 1978, even though the company recorded a profit of $2 billion that year.[11]​.

His masterpiece: the Mustang

Without imagining that he would create a legend, he conceived one of the most successful automobiles that Ford has ever manufactured, the Mustang, a sporty-looking car that was sold at an affordable price and was a success not only nationally but also worldwide. Due to his enormous intuition about consumer tastes, he asked the designers to build not the best, but the cheapest sports car. Americans didn't want the sports car engine so much as the looks.[12]​ Ford offered consumers excitement and a stylish look at an extremely reasonable price. The Mustang sold more in its first year (1964) than any other Ford car, breaking all sales records.

In 1970 he was already president of the Ford company. He also directed the creation of the controversial Ford Pinto.[13] As president of the Ford Motor Company, he had frequent disagreements in crescendo, including incorporating Japanese technology, with the heir Henry Ford II, being ignominiously fired on July 13, 1978 after 32 years of successful management, despite the fact that the company recorded a profit of 2 billion dollars in its coffers for that year.

Career at Chrysler

After leaving Ford humiliated, John Riccardo, then president of Chrysler, saw the life of the company slipping through his fingers. Since he didn't have much to lose, he called him and gave him full powers. Iacocca rounded up some of his former Ford colleagues, closed unproductive plants, made mass layoffs, and set his salary at one dollar a year.

It launched a range of new models, among which the Voyager stands out, the first minivan to hit the market. One of his last great successes was to put together a team that, after his retirement, led Chrysler to once again be a very efficient company.

Iacocca was hired as president and CEO of Chrysler Corporation, a company that was going through a bad situation; the quarter that was about to end alone showed a loss of 160 million dollars.[14] Iacocca paid all debts in less than five years, and turned the company's situation around. Its Dodge Caravan/Plymouth Voyager minivan, introduced in 1983, was one of the best-selling vehicles in the United States.[15][16]​.

It also introduced the "K" models, with four cylinders and with much lower fuel consumption than the standard automobiles, until then, which skyrocketed sales to impressive levels. The company had requested a grace period from its creditors, whom it surprised by canceling said debt ahead of time. During Iacocca's direction, the company, now solvent, began alliances with other large companies such as Mitsubishi, AMC, Maserati and Lamborghini.[17]​.

Chrysler led the automotive industry in sales for 25 years.[18] Throughout the 1980s, Iacocca, with the help of his long-time friend and advertising executive, Leo-Arthur Kelmenson, appeared in a series of commercials developed by Kenyon & Eckhardt for the company's vehicles, using the advertising campaign, "Pride is Back," to denote the corporation's turnaround.[19] He also voiced what would become his catchphrase. characteristic: "If you can find a better car, buy it."[20]​.

Iacocca retired at the end of 1992,[21] but remained on Chrysler's executive committee. He was the author of two books that continue to be bestsellers: Iacocca: an autobiography (1983) and Speaking clearly (1988). Lee Lacocca's autobiography, published in 1983, sold seven million copies in the US alone, spreading around the world, translated into six languages, and being the best-selling non-fiction book in 1983 and 1984. The magazines that interviewed him and put him on the cover were also eagerly sought after by readers.