The 1965 Ford LTD created a whole new sales category for the Detroit automakers, and drove one more nail into the coffin of the traditional luxury class.

Once upon a time, the American luxury car was an island of exclusivity. If you desired a big, powerful engine, an equally roomy and comfortable chassis, imposing styling,.and the finest premium comfort and convenience items, these attributes were really only available in the cars of the luxury class. Cadillac, Packard, Lincoln, and their rivals. And you paid dearly for the privilege.

But by the 1950s, these distinctions were blurring. Every major carmaker offered an advanced, overhead-valve V8 by 1955, and a horsepower war was soon underway among the low-priced brands that eclipsed the power ratings of the premium class.  Power steering and brakes were available across the industry, and even the low-price leaders, Ford and Chevrolet, offered power windows and power seats starting in 1954. That same year, the introduction of integrated, in-dash air conditioning made the ultimate comfort feature available in most any car at an affordable price.

By the early ’60s, it was possible to walk into a Ford or Chevy showroom and by checking all the right boxes on the order form, purchase a full-sized car with all the power and comfort features of a Cadillac or Lincoln, but for thousands of dollars less. More cynical shoppers noted that the products came from the same companies and were built on the same or similar platforms. As they saw it, when they selected from the traditional luxury category, they were largely paying for a badge.

When Ford introduced the LTD in 1965, it institutionalized this development, if you will. This new vehicle category never got a name that stuck, so we’ll call it the Bargain Luxury Class, and it took off across the Motor City. Chevrolet (Caprice), Plymouth (VIP) and American Motors (DPL) quickly piled in with their own value-priced luxury models as well. In an unsubtle dig at Cadillac, a 1967 Chevrolet print ad asked, “Now couldn’t this Caprice almost pass for a you-know-what?”

For its 1965 introduction, the LTD was essentially a trim package for the Galaxie 500, which was all-new that year on a redesigned chassis with plush-riding coil-spring suspension on all four wheels. (Ford ads compared the quietness to Rolls-Royce.) There were two body styles, hardtop coupe and sedan. A 289 CID V8 and automatic transmission were standard, but the power features—steering, brakes, windows, and so on—were extra-cost options.

What LTD buyers got for the $3,313 base price, $648 more than a comparable Galaxie 500, included an uprated interior with fancy cloth, woodgrain door trim, and a rear center armrest—and LTD exterior emblems, of course. From there, buyers could add options to make their Ford approximate a Lincoln, or close enough for them. At the time, Lincoln pricing started at nearly $6,300.

The LTD was a seller from the start, racking up more than 105,000 deliveries in ’65, a fifth of the total Galaxie volume, and with a fatter profit margin, we may safely assume. For ’66, the Galaxie 500 LTD became simply the LTD, and the name remained in the Ford lineup for another 20 years. While what the letters LTD actually stand for has been a matter of speculation—Limited, maybe, or Luxury Trim Decor—but Ford has never clarified the matter.

While the traditional luxury car class in America has suffered a number of blows over the years, the LTD and all its imitators further marginalized the old premium brands. The Bargain Luxury cars shrank the historic distinctions in size, power, comfort, and features. Ultimately, what the luxury brands had left was name prestige, and it hasn’t been enough.