The Ford Mustang
is a popular sporty car first manufactured in 1964
by the Ford Motor Company
. Championed by product manager Lee Iacocca
, the Mustang was first sold for $2,368. The car became an instant hit, serving as the pace car for the 1964 Indianapolis 500
and winning the Tiffany Design Award. Since then, the auto has undergone various redesigns such as the 1974
introduction of the Mustang II. Ford continues to sell about 150,000 Mustangs annually. The early models are collectors' items; and the more recent models still have features such as handling that 'inspires confidence', in the words of a leading consumer magazine.