[1] Based on the Torino, the mid-size two-door coupe was intended to be a junior model to the Thunderbird designed to compete with the increasingly popular intermediate personal luxury class of vehicles such as the Chevrolet Monte Carlo, Pontiac Grand Prix, Oldsmobile Cutlass Supreme, Buick Regal, Dodge Charger, Chrysler Cordoba and Mercury Cougar.

[2] The Elite was a low investment design derived from the concurrent Mercury Cougar XR-7 (both based on Mercury Montego 2-door bodies which originated for 1972) with a mild front end restyling to resemble the Thunderbird with single round headlamps, eggcrate grille, different taillamps with a center reflector, unique twin opera windows and large color-keyed vinyl moldings placed higher on the bodysides.

The Thunderbird was dramatically reduced in size and price for 1977 by moving its nameplate to the Torino-based LTD II platform which was the restyled replacement for the Torino.

It used the four headlight grille from the Fairmont Futura along with Mercury Zephyr taillamps and rear quarter window louvers.

It continued to use the body of the Fairmont with the front end of the North American 1982 Ford Granada and matching rear bumper.