In 1964, the Ford Motor Company, in a bold new bid for the youth market of tomorrow, changed its low-cost transportation in plain wrapper design of long standing and presented its new brain-child, the low-priced sports car, the Ford Mustang. Two basic models, a convertible and a hardtop were presented. The car had 101 horsepower, six and eight cylinder engine, a three-speed floor mounted transmission with optional bucket seats in front, padded dashboard, and wall to wall carpeting. With its long hood and short rear deck and its Ferrari flare and open-mouthed air scoop, the Mustang resembled the European racing cars the American sports-car buff found so appealing.
The Mustangs design was so flexible, its price so reasonable, and its options so numerous that its potential appeal reached towards two-thirds of all U.S. car buyers. The Mustang started out as a two-seater, but four seats are essential for volume sales, a rear seat had to be included. A choice of a six or eight-cylinder engine had to be offered. To accommodate the long six, the hood had to be stretched out and the trunk compartment shrunk. Once basic styling was settled, the interior was decided. By reducing the width of each car by 1 inch, engineers could cut the cost by $20 and save weight also. To increase usable inside space, they used curved glass in the side windows. $50 million of the $250 million budget was appropriated for the Mustang.
The Mustang was offered to the public at the low price of $2,368 at the factory (plus state and local taxes, and delivery charges) to accommodate a small family in its four seats. Optional special items could be purchased for $65 plus. An enthusiast could add optional accessories to build himself a real rally car at a cost ranging up to $4,400. From a selection of engines, transmissions, and special equipment, he could put together a car that would peel off 555 feet in 10 seconds from a standing start.
General M...