The Mustang created the "pony car" class of American automobile sports car-like coupes with long hoods and short rear decks and gave rise to competitors such as GM's Camaro, AMC's Javelin, and Chrysler's revamped Barracuda. It also inspired coupés such as the Toyota Celica and Ford Capri, which were exported to America.

Mustangs grew larger and heavier with each model year until, in response to the 1971-1973 models, fans of the original 1964 design wrote to Ford urging a return to its size and concept.

Although some other pony cars have seen a revival, the Mustang is the only original pony car that has remained in production without interruption after four decades of development and revision. The 64 Mustang remains one of the prettiest cars ever, ever.