Monday 9th March 1964
The first Ford Mustang rolled off the assembly line. The Mustang was basically the utilitarian Ford Falcon with a lot better looking body. The Mustang defined the “pony car” segment: Long hood, short trunk, that Chevy, Pontiac, Chrysler, and AMC would all imitate. It was a great little car for the money. It was the perfect car for the times, and Ford couldn’t make them fast enough. The Mustang wnt go on sale April 17, 1964 [as a 64 ½ model] and set all kinds of sales records. The first car sold to the public was a Wimbledon White convertible. This Mustang was delivered with the following options: Wimbledon White paint, 260ci 2V V8 engine, Cruise-O-Matic automatic transmission, Rally Pac gauges, power brakes, power steering, power convertible top, padded visors, reverse lights, a heavy duty battery, full-length console, tinted windshield, a push-button AM radio with antenna, rocker panel moldings, Deluxe wheel covers with spinners, white wall tires, heater delete, seat belt delete, dual outside mirrors, compass, day/night mirror, and 2-speed electric wipers and washer. The base price of the car was only $2,368, but buyers averaged over $1,000 of extra features. Ford executive Lee Iacocca said, “People want economy so badly they don’t care how much they pay for it.” Over it first two years the Mustang earned $1.1 billion in profits for Ford.