Chopped and sectioned, HOLMAN MOODY CHALLENGER III started out as a ’62 Falcon Futura styling study, matured into a lightweight 145-mph racecar. John Holman and Ralph Moody’s stock car factory in North Carolina turned three Falcon Futura econocars into road racing screamers and the third, featured here, was the most radical, most potent of the series. They had high hopes of building a limited run of Challenger III Falcons and marketing them through Ford dealers. Unfortunately, that did not happ...