For 1974, Cougar Mercury decided to drop the 3rd generation Cougar on the Torino/Montego platform, which was larger than its previous version. The move was meant to lean more on luxury than performance and the convertible model was to be dropped.
All of this was taking place with the 70’s Oil Crisis as the back drop. The question is: Would these decisions help raise the Cougar’s sale numbers? We will answer this question in the video below.
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A transcript, created by AI and edited by a staffer, is below.
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Transcript:
Mercury faced an issue in the early 1970s. Ford had the Mustang II in development, a downsized version of the Mustang. This created a problem for Mercury because the Cougar had always been based on the Mustang as an upscale variant. With the Mustang shrinking, Mercury didn’t have room in its lineup for another compact. They already had the imported Capri and the Bobcat.
For 1974, Mercury shifted the Cougar to the Montego/Torino platform, making it larger and leaning into its luxury character. But was this the right move? Would dropping the convertible hurt sales? And how would the oil crisis of the early 1970s play into it? Let’s take a closer look at the third-generation Cougar and try to answer those questions.
In September 1973, Mercury introduced the third-generation Cougar XR7 as a 1974 model. It gained two inches in wheelbase and 15 inches in overall length. This was the first Cougar to use body-on-frame construction. It shared much of its design with the Mercury Montego and Ford Torino but had a unique front fascia. The car featured a large waterfall grille flanked by quad headlights set in chrome bezels with black accents, along with wraparound turn signals. A 5-mph impact bumper with guards and a prowling cat hood ornament completed the look.
All Cougars had lower body side moldings that blended into the wheel lip guards, bright trim running along the fenders, a vinyl landau roof, and opera windows. At the rear, what looked like a full-width taillight setup was actually two wraparound housings with a reflective panel in the center that concealed the fuel cap. Vertical chrome bezels over the taillamps nodded to the first-generation Cougar. A 5-mph rear bumper with guards was standard.
Four engines were available. The base was a 165-horsepower 351 cubic-inch V8. Options included a 255-horsepower 351 Cobra Jet V8, a 170-horsepower 400 cubic-inch V8, and a 245-horsepower 460 cubic-inch V8. All were paired with a three-speed automatic.
Standard equipment included power steering, front disc brakes, steel-belted tires, bucket seats with a console, performance instrumentation, 25-ounce carpeting, and side marker lights. Options ranged from bench seating, leather upholstery, full vinyl roof, dual racing mirrors, automatic climate control, power windows and locks, tilt wheel, cruise control, illuminated visor mirrors, Traction-Lok rear axle, leather-wrapped steering wheel, AM/FM stereo or eight-track, and various wheel and tire packages.
The press responded positively, often comparing the Cougar to the Chevrolet Monte Carlo and Pontiac Grand Prix. Buyers agreed, with Mercury delivering 91,670 Cougars in 1974—an increase of about 30,000 over the previous year.
For 1975, engine options changed. The 351 Cleveland and 351 Cobra Jet were dropped, replaced by the 148-horsepower 351M. Styling updates included a revised front bumper with two oval air inlets, and a power moonroof was added to the options list. Sales dipped slightly to 62,987 units.
In 1976, changes were minor. A full-width bench seat became standard, with split-bench and bucket seats optional. Sales rebounded to 83,765 units.
Looking back, the third-generation Cougar was an important transition. Mercury needed to distance the Cougar from the Mustang, and moving it closer to the Thunderbird in size and positioning made sense. The Capri and Bobcat already filled the compact roles, so there wasn’t room for a smaller Cougar. The success of the fourth-generation Cougar further proves this was the right move.
The standout of this generation is the 1974 model equipped with the 351 Cobra Jet, although fewer than 3,000 were built, making them rare today.
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