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Coupes, sedans, and wagons in two trim levels were offered. Two factors seemed to be at work. The other was a severe downturn in the national economy — abetted by another fuel crisis — that began in the spring of ’79 and put a big crimp in all new-car sales. With all this, what Ford trumpeted as a “New American Road Car” should have scored even higher output than the 357,000 recorded for ’79. The new LTD would enjoy a sales resurgence, but not before Ford and the U.S. One was GM’s two-year lead in downsizing. The new LTD thus trailed the big Oldsmobiles for second place in full-size car sales and ran far behind Chevrolet’s Caprice/Impala.

Multiple carburetors, headers, dual exhausts, and other “speed parts” were as close as local auto stores. The better-trimmed V-8-only Custom deleted the business coupe but added a convertible and a new two-door structural-wood wagon (replacing the previous four-door style). The former offered six and V-8 Tudor and Fordor, along with business and club coupes. Though Ford briefly considered retaining it, the low-selling Sportsman was dropped for ’49 and other offerings regrouped into Standard and Custom series.

Still, Dearborn was the last of the Big Three to abandon traditional full-size cars — and the first to suffer for it. Ford stubbornly resisted the winds of change, promoting its aging big cars on the basis of greater passenger space and the presumed safety of their “road-hugging weight.” But the public didn’t buy this cynical line — or as many of the cars. In the wake of the OPEC oil embargo and the first energy crisis, Chrysler pushed compacts while GM went forward with plans to downsize its entire fleet.

But though it made for cheaper new Model 74 Fords in a year of generally higher car prices, it didn’t sell nearly as well as expected. Buyers evidently preferred higher performance over lower retail cost. With this development, the familiar 221 flathead became known as the “V-8/85.” For 1937 it benefited from improved cooling via relocated water pumps, plus larger insert bearings, and new cast-alloy pistons. Economy was supposed to be a strong point, but really wasn’t. It again powered Standards and DeLuxes now designated Model 78. V-8/60s were Standard-trim only.