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This boat don’t float.

Three years after Ford management gave it a thumbs-up for production, the 2003 Mercury Marauder arrives in showrooms this month.

Some will call Marauder the performance version of the full-size, rear-wheel-drive, V-8-powered Mercury Grand Marquis, the soft, cushy yacht that caters to the geriatric set.

Suggest that and Steve Babcock, Marauder project manager, bristles.

“It’s the same platform as the Grand Marquis, but it’s a totally different machine, a muscle car, that we’re calling Marauder without the Grand Marquis name,” Babcock says.

Marauder, which brings back a name used in 1963 to designate performance versions of Mercury’s mainstream models, is powered by a 4.6-liter, 32-valve V-8 that develops 302 horsepower and 318 foot-pounds of torque. Some will argue that to enjoy optimum performance, the Marauder sedan needs the supercharged 335-h.p. rendition of the 4.6-liter V-8 in the concept convertible unveiled at this year’s Chicago Auto Show.

“We’re looking at the supercharger for the sedan, and we’ve made a business case for the convertible, but haven’t presented it to top management yet. We all want it, but no decision has been made,” Babcock said.

“When you slice the top off the sedan, you lose structural rigidity and have to add 300 pounds to beef it up. That takes time and money, and we [Ford Motor Co.] need to invest in a variety of other things right now,” Babcock said of a company that lost $5.4 billion last year.

“If we don’t do the convertible now, it doesn’t mean we won’t do it in the future. I suspect the success of the sedan will help make the case for the convertible,” Babcock said.

Chevrolet had the Impala SS in 1994-1996, a performance (5.7-liter, 16-valve V-8 developing 260 h.p. and 330 foot-pounds of torque) version of the full-size Caprice.

A Ford rival has been a long time coming–too long.

“We could have done this years ago, but we waited for a new chassis that was coming,” Babcock said. The new ’03 Grand Marquis and Ford Crown Victoria, as well as the new ’03 Lincoln Town Car, share that same new platform.

What makes Marauder an out-of-the-ordinary Mercury is a suspension system designed for sit-flat-and-don’t-lean-when-driven-hard handling.

While we tested Marauder in everyday situations, Mercury also treated the media to a day at the track–the old American Motors proving ground in Burlington, Wis.–with a high-speed acceleration run, a slalom course and, to conserve what rubber was left on the radials, a lazy oval designed for cruising.

The track is now the domain of MGA Research, which conducts endurance and crash tests for automakers.

Some will argue the need for a supercharger, but zero- to 80-m.p.h. sprints on the acceleration track proved Marauder has adequate power for most occasions.

Spirited takeoffs are complemented by a rumble-tuned exhaust to attract notice. Thanks to standard four-wheel anti-lock brakes, the landings are as pleasant as the take-offs when you apply the binders full force at 80 m.p.h.

At the end of the day, little piles of black dust at the starting line served as evidence that a Marauder, and not a Grand Marquis, ran the course.

But quick takeoffs and radial residue mean little if the car is so stiffly sprung it jars your teeth or so softly sprung it floats in the corners like the big boat Grand Marquis.

After the acceleration run, Marauder traveled a long path of uneven pavement several times without bump or bruise, thanks to load-leveling air springs and dampers to absorb and lessen impacts.

And Marauder hung tough in the slalom course–high-speed twists, turns, corners and evasive maneuvering. Beefed-up stabilizer bars and 18-inch steel-belted performance radials, especially with wider-profile treads in the rear to grab the asphalt, helped. No rocking, and certainly no rolling Sit flat nd steady and in control.

But the slalom pinpointed a problem Marauder needs to address–and which Mercury officials promise will be ASAP.

The soft, well-cushioned leather seats offer lap-of-luxury long-distance cruising comfort, but come up short on the lateral support needed in a performance sedan that will be driven to its limits.

Another problem is that Marauder will be offered at dealerships not used to seeing younger customers.

“The average age of the Grand Marquis buyer is about 70, the average for Marauder will be about 45,” Babcock said.

“We’ve gotta make sure our dealers understand the car and simply not use it to move Grand Marquis buyers into a more expensive car,” Babcock said. “The person who drives a Grand Marquis isn’t going to be happy with Marauder, a muscle car for those who normally would buy a Mustang GT but can’t because they have to carry kids and need four doors.

“One reason I wanted to do this car is to help turn Mercury around, to bring in a younger crowd with a vehicle with image and mystique, to generate enthusiasm in Mercury again because we haven’t had a lure for the enthusiast,” he said.

“There’s been a lot of speculation over Mercury’s future. Some analysts forecast euthanasia for the brand, but Marauder is just one of eight models planned in the next five years–including a van, a pair of sedans, a multipurpose vehicle and a series of image or niche vehicles, maybe one a convertible,” said Mike Renucci, Lincoln Mercury engineering director.

Mercury expects Marauder to vie for attention with those who shop the Pontiac Bonneville SSEi and Chrysler 300M, as well as those who own an Impala SS.

“A lot of SS owners have contacted us. We’ve found it’s not so much Chevy versus Ford as it is loyalty to performance by enthusiasts,” Babcock said.

Marauder starts at $33,790. The only options are a six-disc CD changer in the trunk (single disc in the dash standard) for $350, a trunk organizer for $200 and a lamb’s leather coat for the passenger for $305 to complement the coat that comes as standard equipment for the driver.

This fall, traction control will be added as standard, heated seats and power moonroof as options.

Mercury is working on making accessories, such as deck-lid spoiler, plastic ground-effects cosmetics and perhaps even a supercharger, available through its dealers.

Marauder will be offered with only a 4-speed automatic.

“If we only build 18,000 a year, at the most we’d sell 3,000 manuals. That’s a lot of expense and complexity for just 3,000 cars,” Babcock said.

Initially all Marauders are “sinister black.” This fall dark blue pearl will be added with one new color every six months after that.

Babcock promises Marauder, unlike the Impala SS, isn’t going to be a three-year offering.

“We already have a four-year cycle plan set in place, and we’re working on future upgrades and future models now,” he said.