The Ford Mustang Story: From 1964½ to the Seventh Generation

Background: the idea of a small sporty Ford

At the start of the 1960s Ford wanted a car for a new generation of young buyers: compact, affordable and sporty, with a long bonnet and a short tail. The project was driven by Lee Iacocca, then general manager of the Ford Division, and engineered by Donald N. Frey. The first step was the Mustang I, a two-seat concept with a mid-mounted engine. It made its public debut at the United States Grand Prix at Watkins Glen on 7 October 1962.

The production car took a more practical route. Gale Halderman's side-view sketch became the basis of the first clay model, and to save cost and time the Mustang used many parts from the Falcon compact. Shared components also meant that dealers and mechanics already knew most of the car, so servicing was simple and cheap. A second concept, shown in 1963, was already built on Falcon hardware and looked close to the final car.

Development and launch in April 1964

Production began on 9 March 1964 at Dearborn, Michigan. The first car was sold on 14 April 1964 in St. John's, Newfoundland, three days before the official introduction at the New York World's Fair on 17 April. Because it arrived in the middle of a model year, enthusiasts call the earliest cars "1964½", although Ford registered them as 1965 models.

The launch was a sensation. Ford had forecast fewer than 100,000 sales in the first year and passed that figure within three months. By the end of the first twelve months 418,812 Mustangs had been sold, a record for a new model, and more than one million were built in about 18 months. It was Ford's most successful launch since the Model A of 1927.

Production years, numbers and generations

The Mustang has gone through seven generations, each with its own platform code or nickname. The table gives the main engines and the power range quoted by Ford in the United States.

First generation (1964–1973)

The first Mustangs came as a hardtop, a convertible and, from late 1964, a fastback. In August 1964 the base six grew from 170 to 200 cu in (75 to 89 kW, 101 to 120 hp) and the V8 from 260 to 289 cu in (122 to 157 kW, 164 to 210 hp). Carroll Shelby's GT350 and GT500 turned it into a racing car, and the Boss 302, Boss 429 and Mach 1 kept the image alive. You can read about Shelby's work in the story of the Shelby brand and about the early bodies on our Mustang Fastback page.

Every year the car grew. By 1973 it weighed about 800 lb (360 kg) more than the original, and it had lost much of its agility. The size comparison tool shows how far later Mustangs moved from the compact original.

Mustang II (1974–1978)

The Mustang II was introduced on 21 September 1973, weeks before the oil crisis. Based on the small Pinto, it was much shorter and lighter, with four-cylinder and V6 engines at first. Critics missed the performance, but buyers liked it: 385,993 were sold in the first year, and it was named Motor Trend Car of the Year.

Third generation, Fox (1979–1993)

The Fox platform, shared with more than a dozen other Ford models, gave the Mustang a long life. The 1979 car was angular and light; a convertible returned in 1983, and the SVO of 1984–1986 used a turbocharged 2.3-litre four. A 1987 facelift brought flush headlamps and a new dashboard, and the 5.0-litre V8 with fuel injection became the favourite of a new generation of enthusiasts.

Fourth generation, SN95 (1994–2004)

The SN95 was shown in November 1993 and sold 123,198 cars in 1994. It ran on an updated Fox-4 platform with styling cues from the 1960s, such as the side scoops and three-bar tail lamps. The 4.6-litre Modular V8 replaced the old 5.0 in the 1996 GT, and the 1999 "New Edge" facelift sharpened the body.

Fifth generation, S197 (2005–2014)

The S197 was unveiled at the North American International Auto Show in January 2004 and built at Flat Rock, Michigan, on the new D2C platform. Its retro design drew directly on the 1967–1969 fastbacks. The base 4.0-litre V6 gave 157 kW (210 hp) and the GT's 4.6 V8 224 kW (300 hp). For 2011 Ford fitted a 3.7-litre V6 and the new 5.0-litre Coyote V8 with 307 kW (412 hp).

Sixth generation, S550 (2015–2023)

The S550 was unveiled on 5 December 2013. It was the first Mustang with independent rear suspension as standard and the first designed from the start for sale around the world, in right- and left-hand drive. Engines were a 2.3-litre EcoBoost four with 231 kW (310 hp), a 3.7-litre V6 with 224 kW (300 hp) and the 5.0 Coyote V8 with 324 kW (435 hp). The V6 was dropped in 2018, leaving the EcoBoost as the entry engine.

Seventh generation (since 2023)

The seventh generation was previewed on 14 September 2022, and production started at Flat Rock on 1 May 2023. It keeps the coupé and convertible bodies, the 2.3 EcoBoost and the V8, with a six-speed manual still offered beside the ten-speed automatic.

Technical highlights over six decades

The Mustang's engineering moved from simple to sophisticated in steps. The first cars used the Falcon's suspension and a live rear axle. Fuel injection replaced carburettors on the V8 in the mid-1980s, the overhead-cam Modular V8 arrived in 1996, and the S550 finally replaced the live axle with independent rear suspension. The current car is offered with these outputs:

Compared with the 1964 six-cylinder car, the Dark Horse has roughly five times the power. To see how today's V8 cars stack up, look at our ranking of the most powerful coupés.

Legacy and collectability today

The Mustang gave its name to a whole class: rivals such as the Chevrolet Camaro, Plymouth Barracuda and Dodge Challenger were all answers to it. It has stayed in production for more than 60 years, through oil crises and changing tastes, and remains one of the longest-running American nameplates.

For collectors, the most valuable Mustangs are the early Shelby cars, the Boss 429 and other rare high-performance versions; our page on the 1967 Shelby GT500 explains why. Early six-cylinder hardtops are the cheapest way into a classic Mustang, and Fox-body 5.0 cars have become sought-after modern classics. More cars of that decade are in our 1960s classics, and every current Ford model is in the Ford catalogue.

Which Mustang to buy: a verdict by budget

For a first classic, a 1965–1968 coupé or fastback with the 289 V8 is easy to own and well supported with parts. For driving fun on a budget, a Fox-body 5.0 is the choice. For a modern daily car, an S550 or seventh-generation GT gives V8 power with modern safety and the independent rear axle that earlier cars lacked.

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