Lee Iacocca had been a champion of the Ford brand for 32 years by the time he fell out of favor with Henry Ford II in mid-1978. Ford’s loss was Chrysler’s gain, however, because by that point, Chrysler needed all the innovative leadership it could get. It also needed money and, crucially, a halo car to keep making more of it. Iacocca’s broad, brutal cost-cutting measures helped. So did $1.5 billion in guaranteed loans from the U.S. government.
This is a companion discussion topic for the original entry at https://www.hagerty.com/articles-videos/articles/2018/10/29/the-van-that-saved-chrysler-and-changed-the-way-america-hauled