Retro-Review: 1964 Ford Mustang
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Like Jed Clampett, who inadvertently struck oil while he was out huntin’ ‘coon, Ford’s General Manager Lee Iacocca probably didn’t fully realize just what he was about to tap into with his new low-cost “personal car,” the 1964 Mustang.
In the early 1960s, there was no “youth market” for automobiles – and the term, “pony car” had yet to be coined. But Iacocca – who had risen from obscurity in the hinterlands of Pennsylvania to lead the Ford division in a span of just five years – was plugged into the post-war collective unconscious and saw the need for a new kind of car for the emerging market of young and restless twentysomethings – the group that would eventually be called Baby Boomers.
The parameters for what became the first Mustang were simple and straightforward. It was to be inexpensive to manufacture, with a unitized body and mostly off-the-shelf suspension and chassis components. It would use existing and already proven drivetrains borrowed from other Ford models; there would be no risky gambles on elaborate new technologies the market might not be ready for – as GM had bravely (but ultimately unsuccessfully) tried with the radical for the day, rear-engined, air-cooled Chevy Corvair. Which of course, failed.
Lee’s new car would be compact and light, seat four, be peppy and sporty – and most important of all,it would have a starting price under $2,500. That would make it accessible to the demographic Iacocca saw as an untapped vein of profits for Ford.
Riding on a 108-inch wheelbase and modified Ford Falcon chassis, the first-year Mustang met Iaccoca’s every specification. It was also an out-of-the-park home run – with sales topping 670,000 units by the end of 1965.
No car since then has equaled this feat.
The initial run of Mustangs was offered in two basic bodystyles – a notchback hardtop coupe and a convertible – with a fastback coupe joining the lineup later in the model year. A huge range of optional equipment and trim levels were offered from the get-go.
This was deliberate strategy, intended to let buyers more or less custom-order their car. Mustangs could be fitted out as a luxury tourers, economical runners – or tire-barking muscle cars. There was truly a Mustang for everyone – from young single guys to young at heart retirees who felt good cruising in their drop-top ‘Stang.
Like the VW Beetle, the Mustang transcended class and economic strata; drivers who could afford far more expensive machinery bought them as eagerly as those who had to beg and borrow every dime for the down payment. The car’s multiple personalities were also key to its long-term “legs.” Because it appealed to a much broader audience than just young single guys – as was the case with muscle cars such as Pontiac’s GTO – the Mustang was able to weather many a storm and survive long after the GTO and its kind had been felled by declining interest in one-dimensional muscle cars.
A look at the Mustang’s roster of available powertrains.........................
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