Iacocca's daughter told The Washington Post the cause of death was complications from Parkinson's disease.
"Lee Iacocca was truly bigger than life and he left an indelible mark on Ford, the auto industry and our country," said Ford executive chariman Bill Ford. "Lee played a central role in the creation of Mustang. On a personal note, I will always appreciate how encouraging to me at the beginning of my career. He was one of a kind and will be dearly missed."