By late next year, Ford will have replaced its 52-year-old Econoline with an all-new Transit, Europe's best-selling van, which offers better fuel economy, greater comfort and more space.

Anyone who has moved dorms or apartments has driven an Econoline at some point -- which is to say they've driven an outdated, sparse and terribly thirsty vehicle with sloppy steering. It's a tough, basic van, having outsold every other commercial van for the past 31 straight years, but the current Econoline hasn't seen a major overhaul since 1992.

The Econoline's large engines -- two V8s and a 6.8-liter V10 -- will be dismissed in favor of a turbocharged V6 found in the F-150 pickup and a 6- or 8-cylinder diesel. Ford says the new Transit will return 25 percent better fuel economy than a similar Econoline, thanks to the new engines, sleeker aerodynamics and a 300-pound weight loss. Multiple configurations of wheelbases and roof heights make the Transit far more flexible than the Econoline. While all-wheel-drive is offered in Europe, U.S.-spec vans will come only in rear-wheel-drive. Ford did not say if other Transit features offered in Europe, such as auto start-stop, would make it here.

The compact Transit Connect, introduced here in 2009, also delivers brand-new exterior and interior styling for 2014 (pictured at right). Active safety features such as blind-spot monitoring will likely be offered, according to Ford. Both vans will debut as 2014 models at the North American International Auto Show in January.

We can't wait for U-Haul and other rental agencies to place big orders. If you're feeling overly nostalgic for the old Ford vans, have a listen to country singer Nanci Griffith's "Ford Econoline," below. We're not missing it.