From 1960-1965, the Comet was based on the Ford Falcon platform (stretched 5 in (130 mm) for sedans, but not for wagons). The 1960-1963 Comets share a similar basic shape. These are sometimes referred to as the "round body" Comets. For 1962 and 1963, the Comet shared a considerable number of body and mechanical parts with the short-lived Mercury Meteor intermediate.
Due to the demise of Edsel, the Comet was initially released without any divisional badging, only "Comet" badges. It was sold through Mercury dealers, but would not be branded as such for two more years.
Introduced in March 1960, initial body styles were 2-door coupes, 4-door sedans and 2- and 4-door station wagons. Two trim levels were available, standard and "Custom", with the custom package including badging, additional chrome trim and all-vinyl interiors. In 1960, the only engine available was the 144 cid Thriftpower straight six with a single-barrel Holley carburetor which produced 90 hp (67 kW) at 4200 rpm. (Some sources list it as producing 85 hp (63 kW) at 4200 rpm.)
Transmission options were a column-shifted 3-speed manual and a 2-speed Merc-O-Matic automatic transmission (unique to the Comet, despite sharing a name with the Merc-O-Matic installed in other Mercurys).
Ford had purchased the name "Comet" from Comet Coach Company, a professional car manufacturer in which the term belonged to a line of funeral coaches, mainly Oldsmobiles. The coach company then was renamed Cotner-Bevington.
In Canada, for the 1960 model year, Mercury-Meteor dealers sold a compact car called the "Frontenac". The Frontenac was considered a model in its own right and was badge-engineered version of the Ford Falcon with only minor trim differences to distinguish it from the Falcon.
The Frontenac was produced for only one year. The Comet was introduced to the Canadian market for the 1961 model year and replaced the Frontenac as the compact offering by Mercury-Meteor dealers.
In response to complaints about the low performance of the 144 cid engine, a 170 cid straight-6 with a single-barrel Holley carburetor producing 101 hp (75 kW) at 4400 rpm was released for the 1961 model year. A new 4-speed manual transmission was also an option (a Dagenham without 1st gear synchromesh).
The optional S-22 package was released. Available only on the 2-door sedan, it was billed as a "sport" package, although it shared the same mechanicals as regular Comets, with the only changes being S-22 badging, bucket seats and a center console.
Comet was officially made a Mercury model for the 1962 model year, and it received some minor restyling, mainly a redesign of the trunk and taillight area to bring the car more in line with the Mercury look. This is the first year the car carried Mercury badging.
The S-22 received six tail lights, while regular Comets had four. A Comet Villager station wagon, basically a Comet Custom 4-door station wagon with simulated woodgrain side panels, was added to the lineup. (The Villager name had previously been used to denote the 4-door steel-sided station wagon in the Edsel Ranger series.)
While the 1963 model looked almost identical to the earlier models, the chassis and suspension were redesigned to accommodate an optional 260 cid V8 engine using a 2-barrel carburetor and producing 164 hp (122 kW). Convertible and hardtop (pillarless) coupe models were added to the Comet Custom and Comet S-22 lines this year.
Source: Wikipedia, 2011