Lee Iacocca, US auto executive who saved Chrysler from bankruptcy, dies at 94https://indianexpress.com/photos/world-news/lee-iacocca-us-auto-executive-who-saved-chrysler-from-bankruptcy-dies-at-94-5812127/

Lee Iacocca, US auto executive who saved Chrysler from bankruptcy, dies at 94

Lee Iacocca, the charismatic US auto industry executive who gave America the Ford Mustang and was celebrated for saving Chrysler from going out of business, has died at the age of 94.

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Lee Iacocca, the charismatic US auto industry executive who gave America the Ford Mustang and was celebrated for saving Chrysler from going out of business, has died at the age of 94 due to complications from Parkinson's disease. (Source: AP Photo/Mario Cabrera, File)

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Ten year after joining Ford, Iacocca came up with a marketing campaign, "56 for '56" - buyers could get a 1956 Ford with 20% down and three years of monthly installments of $56. The plan took off like a rocket. Time and Newsweek featured him and the car on their covers in April 1964. By 2013, about 9 million Mustangs had been sold. (Source: Reuters/Gary Caskey/File Photo)

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In this August 7, 1980 photo, Lee Iacocca sits on the hood of K Car Number One, a Plymouth Reliant, in Detroit. Iacocca won a place in business history when he pulled Chrysler, now part of Fiat Chrysler, from the brink of collapse in 1980, rallying support in US Congress for $1.2 billion in federally guaranteed loans and persuading suppliers, dealers and union workers to make sacrifices. He cut his salary to $1 a year. (Source: AP Photo/Dale Atkins, File)

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Lee Iacocca (R) and Unique Mobility, Inc. Chairman Ray Geddes pose with two of their electric vehicles, a commuter car and scooter, outside company headquarters in Golden, Colorado, July 24, 1997. (Source: Reuters/Gary Caskey/File Photo)

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In this March 28, 1990 photo, Lee Iacocca sits in a 1990 Dodge Viper sports car as the Chrysler in the 90's six city tour makes a visit to New York. Iacocca encouraged his design teams to be bold, and they responded with sports cars that appealed to baby boomers in the 1960s, fuel-efficient models when gasoline prices soared in the 1970s, and the first-ever, family-oriented minivan in the 1980s that led its segment in sales for 25 years. (Source: AP Photo/Osamu Honda, File)

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Lee Iacocca test drives an electric scooter vehicle at Unique Mobility, Inc. in Golden, Colorado, July 24, 1997. In retirement, Iacocca invested in the casino business and a line of imported olive oil, and he joined corporate boards. He penned "Where Have All the Leaders Gone?," a 2007 book critical of American leadership, especially President George W. Bush. (Source: Reuters/Gary Caskey/File Photo)

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Lee Iacocca and his wife Darrien arrive for a special industry screening of the new film "It Could Happen To You" in Los Angeles July 28, 1994. Darrien was Iacocca's third wife. They got separated in 1994. Iacocca had two daughters with his first wife, Mary, who died of diabetes in 1983. After this he married twice but both marriages ended in annulment. (Source: Reuters/Fred Prouser/File Photo)

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Lee Iacocca with his granddaughter Mary Caitlin at the world premiere of "Pirates of the Caribbean: Dead Man's Chest" at Disneyland in Anaheim, California, June 24, 2006. (Source: Reuters/Fred Prouser/File Photo)