• The Ford Mustang has gone through many changes over the years.ford mustang's steering wheel image by Lario Tus from Fotolia.com
  
  Ford has continued releasing updated and revamped models of its famous Mustang since its debut in 1964. Body styles have included the convertible, hatchback, fastback and coupe. From lighter weight V6 engines to heavy duty V8s, the Mustang's engine and its performance have evolved as well. Over the years, Mustang enthusiasts have been given a host of options to choose from.
  
  

First Generation

• Ford released the first Mustang in 1964 as a more streamlined alternative to its already compact Falcon. It was the first car released in the "pony" class. This first generation of Mustangs was produced from 1964 until 1973. It featured a backseat and a number of customizable options. Body style options included the hard topped coupe or the soft top convertible. In mid 1964, a fastback style was introduced as well. The Shelby GT-350 was introduced in 1964, featuring a 289 V8 engine with 306 horsepower. The Shelby did not have a backseat and was sold fully race ready.
  
  

Second Generation

• The second generation of Mustangs, dubbed the Mustang II, was released from 1974 to 1978. The new design of the Mustang was meant to be a more European style, light and sporty. The old V8 engine was replaced with either a 2.3 liter 4-cylinder or a 2.5 liter V6. The body was a full foot shorter than the first generation models. In 1975, Ford offered a 302 cubic inch V8 engine in the Mustang II. This option was only available with the automatic transmission. In 1976, the optional V8 engine was also made available with the manual transmission. In 1978, the King Cobra Mustang II was released. This model featured a 4-speed manual transmission and a 302 V8 engine.
  
  

Third Generation

• The third generation of Mustangs were released from 1979 to 1993. The 1979 model was 4.1 inches longer than the 1978 Mustang II. Body options on the new Mustang included a two-door coupe or a three-door hatchback. The 1982 model was released with the reintroduction of the 302 V8 with 157 horsepower. The convertible model was reintroduced in 1983. A special 20th Anniversary GT model Mustang was released in 1984. In 1985, the Mustang came with dual exhaust, giving it a boost of power and an output of 210 horsepower. In 1993, three special edition Mustangs were released: a white convertible with white interior and a yellow convertible with white interior, both with a LX 5 liter engine. A new Cobra was also released in the middle of 1993, with a 5 Liter V8 engine with 235 horsepower.
  
  

Fourth Generation

• The fourth generation Mustangs were released in 1994 and produced until 2004. The body style was completely changed from the previous three generation Mustangs. Styling cues were reminiscent of earlier Fords, and included the horse-badge on the grille, 3-segment tail lights, reappeared side scoop and the twin pad dashboard on the driver's side. The two styles released were the hatchback/semi-fastback and the convertible. No coupe version was offered. In 1999, sharper contours were introduced as well as larger wheel arches. The base engine offered in the fourth generation models was a 232 cubic 3.8 liter OHV fuel injected V6 with horsepower of either 145 or 150. Transmission options were a 5-speed manual or 4-speed automatic. The Mach 1, a supercharged SVT Cobra, was released from 2003 to 2004.
  
  

Fifth Generation

• Ford released its fifth generation Mustang pony muscle car in 2005. Its body was completely redesigned in a sleek and retro style. The engine was a 4 liter SOCH V6 with horsepower rated at 210. The transmission was a 5-speed manual with the optional 5-speed automatic. A GT version was released as well with a 4.6 liter aluminum SOCH V8 rated at 300 horsepower. A third edition, the Shelby GT500 was a supercharged edition with a 5.4 liter V8 with a 6-speed manual transmission.