The first Ford Capri to bear that precise name was introduced in January 1969 at the Brussels Motor Show, with sales starting the following month. The intention was to reproduce in Europe the success Ford had had with the North American Ford Mustang; to produce a European pony car, mechanically based on the Cortina. The car was named Colt during development stage, but Ford were unable to use the name, as it was trademarked by Mitsubishi.

Although a fastback coupé, Ford wanted the Capri Mk I to be affordable for a broad spectrum of potential buyers. To help achieve that, it was available with a variety of engines. Under the new body, the running gear would have been familiar to anyone used to working on the underside of a 1966 Cortina. Rear suspension employed a live axle supported on leaf springs with short radius rods. The range continued be broadened, with another 3.0 variant, the Capri 3000E introduced from the British plant in March 1970, offering "more luxurious interior trim".