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Mercury Cougar returns to its sports-coupe roots this fall with an all-new, front-wheel-drive entry designed to attract younger buyers to the Mercury fold.

The new Cougar also marks a rare instance, the first since its short-lived two-seater convertible Capri, in which Mercury will have a car all its own, rather than sharing iron with big brother Ford.

Mercury execs say it’s part of the division’s recent efforts to emerge from the Ford umbrella and create an identity for itself.

Based on the Ford Contour/Mercury Mystique platform, Cougar’s forward-looking styling is marked by sharp, catlike contours; an athletic stance; unique, bulging headlight and rear-light lenses; and an interior that’s both futuristic and retro.

It’s smaller and sportier than the previous model, which was a Thunderbird clone, and brings a distinctive new face to the mid-priced sports-coupe field.

Ford calls the look New Edge styling, and promises to bring some of those design elements into other Mercury offerings. Well, maybe not the Grand Marquis or the Mountaineer sport-utility vehicle. Already, Mystique and Tracer are taking on cat-eyed and cagey looks.

I tested a preproduction version of the Cougar a few months back and came away with mostly favorable impressions of the V-6-powered coupe. Steering and handling were tight and balanced, and the engine had some pull once the RPMs started to climb, helped along by a quick-shifting five-speed manual.

But the recent, production-model test car I drove was hampered by an automatic transmission that couldn’t deliver the poise and power of the five-speed version. What had been a rev-happy V-6 ready to hum was now a bogged-down motor that never reached its potential. What was a raspy, sports-car exhaust note became a low moan.

Too bad. There are ways to mate an automatic with a small, sporty engine whose power band is in the upper register, but this isn’t it.

Once the Cougar got under way, the engine power kept it at comfortable highway speed, up and down grades, but acceleration was met with a resistance that is not in keeping with the Cougar’s sporty intent.

There’s also a base four-cylinder engine, which turns 125 horsepower, for economical Cougar drivers.

The New Edge styling received lots of favorable nods on the road, with several fellow drivers straining their voices to shout questions about its price and availability. In size and shape, it’s similar to the Mitsubishi Eclipse, with a low, crouchy front aspect and a broad rear end.

The Cougar’s severe angles of taillights, headlights and windows do evoke the claws of a cat. Creases and compound curves on the fenders and doors give the coupe a concept-car look.

The Cougar seems to have more interior space than the Eclipse, with lots of front-seat legroom and headroom, and a usable if not exactly commodious back seat. With its hatchback configuration, trunk space can be expanded to include the folding back seat, making a decen t vacation getaway car for two.

The dashboard and door panels continue the concept-car look, with loads of curving forms, round pieces and looping door handles. Little, shiny plastic cougar-head medallions on the door handles look cheap and tacky.

The plastic air ducts are rounded aircraft-style. They operate easily, though they feel flimsy. They remind me of the air-conditioning ducts in the late ’50s, although those were made of heavy chromed metal.

The air-conditioner in our test car also had trouble cutting the edge off the dog days of August.

In a sporty coupe designed for a youthful audience, the fun-to-drive quotient is all important. Aside from the power-robbing slushbox, the Cougar acquitted itself well in terms of road feel, steering quickness and the ability to zip around curves with aplomb and limited body sway.

Sixteen-inch wheels and tires help the drivability considerably.

Whether Cougar can reach its niche audience remains to be seen. Despite the old name, it’s still the new kid on the block, with heavy competition from the likes of Eclipse, Acura Integra, Infiniti G20 and Ford’s own Mustang.

The Cougar is a new take on the theme, though, and should attract those who crave the latest. There’s also the price, which is competitive for a sporty car with decent performance and a strong image. The options are not too expensive, although anti-lock brakes cost $500 extra. They should be standard.

Just be advised that the stick shift version provides much more satisfying fun and performance.

1999 Mercury Cougar

Vehicle type: Four-passenger, two-door coupe, front-wheel drive. Base price: $18,095. Price as tested: $21,800. Engine: 2.5-liter V-6, 170 horsepower at 6,250 rpm, 165 pounds-feet of torque at 4,250 rpm. Transmission: Four-speed automatic. Curb weight: 2,892 pounds. Length: 185 inches. EPA fuel economy: 20 city, 29 highway. Highs: Sharp styling. Handling, steering. Moderate price. Lows: Power-robbing transmission. Cheap interior bits. AC discomfort.