 For 1962, Mercury marketing decided that the Monterey nameplate had better consumer recognition than the Meteor moniker as far as full-sized vehicles were concerned (despite the fact that the Meteor outsold the Monterey), and instead assigned the Meteor name to a new line of mid-sized cars based on the Ford Fairlane which, in turn, was based on a long-wheelbase version of the Ford Falcon chassis.This smaller, mid-sized Meteor filled the product gap between the full-sized Monterey and the compact, Ford Falcon-based Mercury Comet.Riding the Fairlane’s 116.5 inch wheelbase, the 1962 Meteors wore unique rear quarter panels that mimicked the Monterey's jet-pod tail lights.