Broken Piece, What Is It?

Thanks! Here is a pic from the other end if it helps. It is the cable on the botom.

Madison-20120805-00125.webp
 
You didn't mention it, but your car is an automatic by the looks of things. that "hole" is where the plastic bushing that holds your TV (Throttle Valve) cable in place goes. You're gonna want to replace that, your transmission will act all sorts of crazy without it hooked up, right before burning out your overdrive.

Here's about as good a pic as you're going to get....

mump_1011_20_o+ford_automatic_overdrive_transmission_installation+aod_tv_cable_adjustment.webp


...and you're in luck. LMR sells the bushing.

http://www.latemodelrestoration.com/item/LRS-4170803/84-93-Mustang-AOD-TV-Cable-Bushing

....and if the cable is toast, the whole cable is available too.

http://www.latemodelrestoration.com/item/PAI-53500/87-93-Mustang-Aod-Throttle-Valve-Tv-Cable
 
I had a buddy whose car kept over heating and would actually melt the little bushing. Even melted some zip ties that were being used as a "fail safe" for when the bushing melted. That or someone was messing with his crap. If you ever find yourself going through a lot of these bushings, what I did to permanently fix this was drill out the hole on the throttle body linkage a little bit and put a bronze bushing in there with a cotter pin through the little "arm" that goes in to the bushing.
 
I had a buddy whose car kept over heating and would actually melt the little bushing. Even melted some zip ties that were being used as a "fail safe" for when the bushing melted. That or someone was messing with his crap. If you ever find yourself going through a lot of these bushings, what I did to permanently fix this was drill out the hole on the throttle body linkage a little bit and put a bronze bushing in there with a cotter pin through the little "arm" that goes in to the bushing.
Or.....http://www.latemodelrestoration.com/item/LRS-7303A/87-93-Mustang-Aod-Brass-Tv-Cable-Bushing-Kit
 
Don't drive the car much without that cable working and adjusted properly!
Maybe drive it home if you are out, then FIX IT...
It takes very little time to burn up your tranny if that cable is misadjusted, much less not hooked up.
Ask me how I know. :(
 
Wow. Just noticed that I was tagged in this thread. Tag fail on my part. Noobz347, is there an option for e-mail notification when you get tagged?

You were tagged but when I saw that he got the answer he needed, I edited my post and removed the tag. So your alert probably didn't exist when you next logged on.