This is my 1975 Mecury Bobcat Runabout mpg Hatchback. It's Automatic with a C3 and a 2.3L 4 cyl 2 bl 140 Y code engine. At the moment it is totaly original with 148,000 miles on the clock. The engine has serious blow by, only 90lbs compression on 3 cylinders and none on #1. The car is about to recieve a new engine either from a donor car or a remanufactured one.
This is how it looked when first purchased:

Now it looks like this:

Pretty much the same except with tinted windows and a wax job

I intend to keep the car stock unless I can find a Thunderbird Turbo Coupe cheap soon to do a 2.3L Turbo swap.

I did consider a V8 302 swap but I already have a gas guzzling 289 w/4bl in my '65 Falcon and also I didn't really want to cut the car to fit one in.

July 2007 UPDATE: I since discovered that the gas mileage would not be that bad with a V8 abd there is no need to do any cutting as long as you use a Mustang II 302 Bellhousing and Oil Pan.

We got the car for $500 which is too much but the p.o.'s lied to us about the mileage and condition of the engine.

July 23 2006: update:

The Bobcat now has a freshly rebuilt engine with all new or refurbished ancillaries and it looks like this:

Before it looked like this: