Just don't look like the real thing to me but I would love to be proved wrong, I am sure if it was it would never have been allowed to get in that state. Can you not at least identify if it started life as a proper Mercury Merkur fitted with the Mustang Pinto turbo engine. Maybe that bit cut out the chassis may have been to clear the engine and turbo unit, may be worth checking if a standard Merkur has that modification.
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