1979 Ford Mustang Indy 500 Pace Car replica — front three-quarter view

1979 Ford Mustang

Third generation · Fox-body 1979–1993

The long-running Fox-body, built on Ford’s Fox platform from 1979 to 1993.

Photo: “1979 Ford Mustang Indy 500 Pace Car replica, front left, 06-14-2025” by MercurySable99 / Wikimedia Commons , licensed under CC BY-SA 4.0 . Cropped to 16:9.

The 1979 model year

Overview

An all-new car on Ford's lighter Fox platform, replacing the Mustang II. Crisp, angular, and several hundred pounds lighter, it offered everything from a thrifty four to a 302 V8, plus a new turbocharged 2.3 four. The Mustang paced the 1979 Indianapolis 500, and Ford sold a commemorative Indy Pace Car replica. (Horsepower figures are SAE net.)

Specifications

Engines
  • 2.3 I4 88 hp
  • 2.3 Turbo I4 (carbureted draw-through, no intercooler) 131 hp
  • 2.8 V6 (Cologne) 109 hp
  • 302 "5.0" V8 (2-bbl) 140 hp
Transmissions
4-speed manual, 3-speed automatic
Body styles
Coupe (notchback), Hatchback (3-door)
Base price
$4,494 (4-cylinder coupe) ≈$19,400 today (inflation-adjusted) Original MSRP adjusted for inflation (CPI, 2024); not the car's current market/collector value. Source: U.S. Bureau of Labor Statistics, CPI-U (U.S. city average, all items), annual average.
Production
369,937 (incl. 10,478 Indy Pace Car replicas)

Year over year

What changed

  • All-new Fox platform — lighter and roomier than the 1974–78 Mustang II it replaced.
  • First turbocharged Mustang four: a carbureted 2.3 Turbo (no intercooler).
  • The 302 V8 returned, badged '5.0'.
  • Two body styles only: notchback coupe and three-door hatchback (no convertible yet).
  • Mid-year Indy Pace Car edition commemorated the Mustang pacing the 1979 Indianapolis 500.

Living with it

Reliability & ownership notes

Worth knowing

Notable

Sources

  1. Wikipedia — "Ford Mustang (third generation)"
  2. CJ Pony Parts
  3. Curbside Classic
  4. Hagerty
  5. MustangSpecs — per-year base MSRP

Other Third generation years

Explore the Fox-body generation → All Third generation · Fox-body years →

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