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If you have a really hugely successful model one year (like the first Mustang), will people from then on be loyal to that model even if it slips a bit? (the Mustang II for example)
Alternatively, if you have a successful car from the past (like the Camaro or the Fiat 500) and you decide to build a new car with the same name, will nostalgia-seekers go after it?

Yup, your brand will have a reputation and so will individual models, so if you make a new Mustang it will carry over (and possibly ruin!) the reputation of that model

That's a great feature!

Well surely you wouldn't want to remake the Edsel ... But if you're mad enough and going to do it ... EPIC!