The Mustang went on sale on April 17, 1964. According to Ford, over 22,000 were sold the first day. It was initially available in two body styles- a two door hardtop, also known as a the notchback, and a convertible. The 2+2 fastback, wasn't introduced until September, 1964. No matter what body style, the Mustang was the car to get in 1964. Besides its attractive styling, it was priced right- the two door hardtop listed for $2320 while the convertible went for $2557.
Mustangs built between March 1964 and August 17, 1964 are known as early 1965 Mustangs. There were no 1964-1/2 Mustangs. Those built after August 17, 1964 are known as late 1965s. A quick way to identify an early vs a late 1965 is by the electrical system. All early 1965s came with generators; late 1965s came with alternators. Generator equipped cars came with a GEN warning light on the instrument panel; alternator equipped Mustang came with an ALT light. There are a multitude of other differences as well. Some worth noting are: early cars got a stationary passenger seat, a smaller handle on the automatic transmission, and larger horns.
There is considerable difference between early and late 1965 Mustang engines. The base 101 hp 170 c.i. six cylinder, the 164 hp 260 c.i. V-8 and the 210 hp 289 c.i. V-8 were all replaced by a 120 hp 200 c.i. six cylinder, a 200 hp 289 c.i. V-8 and a 225 hp 289 c.i. V-8 respectively.
There wasn't much in the way of standard equipment on the Mustang. All you got was a heater, manual steering, manual drum brakes and a 170 cubic inch six cylinder engine mated to a three speed manual transmission. Even things we take for granted today- such as back-up lights, rear seat-belts, and emergency flashers were optional! Of course, there was a long option list to choose from.
Starting in June 1964, the famous 271 hp 289 V-8 was available, and only with a four speed manual transmission. This motor gave the Mustang a little extra spunk. Although it couldn't come close to the other musclecars of that time (such as the GTO) it made the Mustang a joy to drive. It also included the Special Handling Package (stiffer springs, shocks and front stabilizer bar) and the 14 inch Red Band tires. Axle ratio choice was limited to 3.89 or 4.11:1. Incidentally, the Special Handling Package was available only on the 289 V-8 powered Mustangs. All Mustangs with the 271 hp 289, also came with the larger nine inch rear axle ring gear. All other Mustangs got the smaller eight inch rear. Only 7,273 1965 Mustangs were equipped with this engine.
From March 1965, the Interior Decor Group, more commonly known as the Pony Interior, because of the embossed ponies on the seats, became available. The letter B indicates this option on the body code on the Warranty Plate. Thus 65B,63B and 76B all indicate the luxury interior, while the letter A indicates the standard interior. In addition, the Interior Decor Group option also included the five dial instrument bezel which replaced the standard bezel. Today, you'll find many pre-March 1965 Mustangs have had their interiors changed to the Pony Interior.
There wasn't a GT Mustang model per se, in 1965. Instead, the GT Equipment Group option was available on all Mustang body styles from April 1965, and only on those equipped with the 225 hp and 271 hp 289 V-8 engines. The package consisted of manual front disc brakes, the Special Handling Package, quick ratio steering, chrome exhaust trumpets, rocker panel stripes, GT emblems and grille mounted fog lamps. In the interior, the standard instrument bezel was replaced with a five-dial version. Only 15,079 1965 Mustangs came with the GT Equipment Group option.
Rarest 1965 Mustangs are the Indianapolis 500 Pace Car convertibles built for the 1964 race. Two were used in the actual race and 35 others were given to race dignitaries. All were painted Pace Car White (which is not the same color as the standard Mustang Wimbledon White). Additionally, 185 Indianapolis Pace Car replica hardtops were built and given to dealers. All were painted Pace Car White and equipped with the 260 c.i. V-8 and automatic transmission.
