Ford Mustang
The Ford Mustang is the original "pony car." First released in 1964, the Mustang took the world by storm. With its sporty looks and speed, the Mustang became an instant hit that was copied many times. It has gone through five generations (including the Mustang II which barely counts). It has always had a V8 available (except for the Mustang II) and has usually been able to blow the doors off the competition. Because of its success many competitors tried to imitate it. Chevy released the Camaro which has been the longtime competitor. While the Mustang has an uninterrupted line of production the Camaro was canceled in the 1990s much to the dismay of Chevy fans, but in reality it had become bloated and couldn't compete with the Mustang.
First Generation
The first generation started in 1964 as a 1965 model year (Some people call this 1964 and a half). A hugely innovative concept, the first generation Mustang wrapped components from other Ford models in a beautiful sporty body which shocked the public. Ford originally thought they would sell 100k units in the first year, but after the first three months they had sold 300k. The first generation was offered with a number of engine options including economical I6s and powerful V8s. Three transmissions were available: 3 and 4 speed standards and a 3 speed automatic. The body style was updated in '67, '69 and '71 each time getting a little bit larger.
Second Generation
In 1974 Lee Iacocca almost killed the Mustang (even though he had helped get it produced) as President of Ford, he pushed for a smaller lighter pony car which would be called the Mustang II. This wasn't a bad idea, but the execution was flawed. Too much attention was paid to competing with limp wristed imports like the Toyota Celica. It was also hamstrung by intrusive government regulations making it heavier even though the final design was much smaller than the original Stang. They even changed the Mustang logo to be less masculine, turning the galloping steed into a prancing milquetoast pony. Demand was never very strong for this mediocre version which reflected the malaise of the late 1970s under president Carter (one of this nation's worst presidents).
Third Generation
It didn't take Ford long to get back on track with the third gen. In 1979 just five years after the introduction of the Mustang II Ford introduced the third gen which was based on the Ford Fox platform, a multi model design used on the Fairlane and others. Even though this new model was back to the standards of the original albeit still hampered by government regulation, sales were slow. In response the bean counters at Ford considered the unthinkable and planned a Mustang replacement based on the Japanese Mazda MX-6. This new model would be front wheel drive and wouldn't have a V8. When people got wind of this plan, they wrote thousands of letters to Ford demanding that they keep the true Mustang alive. The result: Ford updated the the Fox based third gen and sold the "Mustang replacement" as the Ford Probe. The third gen had a wide range of engine and tranny options ranging from 4cyl (including a turbo) to V8s.
Forth Generation
The forth gen Stang burst on the scene in 1994. It was based on an updated Fox platform. In 1999 the model received a face lift to bring it in line with Ford's "New Edge" styling scheme. It was available with either a V6 or a V8 with manual and auto trannys. A wide variety of special models were offered including the world beating SVT Cobra R (Special Vehicle Team) which featured an independent rear suspension, a first for a Stang.
Fifth Generation
In 2004 Ford again shocked the world with the introduction of the the fifth gen Stang. This model was a true return to the original pony cars roots. With beautiful retro styling and unmatched production quality, this Stang stunned. Again available with either a V6 or V8. This time even the V6 pumps out heaps of power (over 300hp). There are a variety of special models including several Shelby versions which are some of the finest Stangs ever released. The Shelby GT500 for instance pumps out 550hp!