Lee Iacocca's relevance to the auto industry is gone, despite the role he once played. So, too, has his unique limited edition 45th anniversary Mustang faded from the scene with the new 5.0's arrival, but this video sidesteps relevance and goes straight to interesting, and, at a few points, cool.

After reminiscing a bit about the past, Lee and Jay get to the topic at hand, Lee Iacocca's personal example of the limited edition pony car that bears his name. A walkaround of the car's details ensues, where we learn the same company that fabricated the body for Jay's EcoJet does the Iacocca Mustang too, followed by some around-town driving, then we finally get to to the good stuff: a little WOT action in the silvery coupe, including the tire-shredding action teased in the headline. It's a tiny burnout, but it's a burnout in Lee Iacocca's own car.

[Jay Leno's Garage]