They say the first and last of a series are the most important, at least from a collector's point of view. This certainly applies to the 1965 Mustang, even though it was built in such large numbers. It doesn't quite apply to the last of the first generation Mustang, as the largest Mustang just wasn't popular, then or now. By 1973, the Maverick was handily outselling the Mustang, which in many ways was closer to the original 1965 Mustang concept than the 1973 Mustang.
As usual, all three Mustangs body styles were available but it was the last year for the factory built convertible. This helped to account for the slight resurgence of the convertible in 1973.
1973 Mustangs were slightly restyled to distinguish them from the 1972s but in most respects, they were unchanged. The most obvious change was the redesigned grille. The eggcrate mesh was larger and the turn signal lamps were located within the grille opening. Headlight location remained unchanged, however, the headlight bezels were chromed and similarly, the taillight bezels were finished in bright metal.
The front bumper, designed to meet the new for 1973 Federal five mph standards, was color-keyed to the car's paint as were the hood and fender moldings. The rear bumper, similar to the 1971-72 unit, was mounted further away from the rear of the car in order to comply with the 2-1/2 mph rear standards.
As far other changes go, the Mach 1 got a new side body tape stripe treatment. Those favoring the vinyl roof look, could order a 3/4 vinyl roof on the Mach 1 and all other SportsRoof models. The Grande was unchanged, save for colors and vinyl roof treatments. Noteceably absent from the option list were the 15x7" chrome Magnum 500 wheels.
Engine availability was unchanged from 1972. Even though it was the last year for the big Mustang, some mechanical improvements did appear. Suspension travel was increased by a 1/4 inch and the standard drum brakes were larger. And all convertibles came with power front disc brakes.
It was clear that actual performance no longer mattered. For example, a 1965 Mustang with the optional 271hp 289 c.i. V-8 would out accelerate a 351CJ equipped 1973 Mustang. What a comedown but it wasn't the end of the line for the Mustang. The Mustang would return in 1974 as the Mustang II and eventually, by the late 1980s, the Mustang once again would reclaim its lost performance heritage.
