The Ford  Mustang, was introduced in April 1964 with the usual fanfare from Detroit. The original Pony car  was built on the compact Falcon’s platform and came with a Falcon suspension. It had the same soft springs and four-wheel drum brakes.  The '64½ was actually considered a '65 by Ford, but collectors use the terms to differentiate changes made by Ford after mid-August 1964. At this time there were engine changes, the Mustang switched from a generator to an alternator plus interior and exterior color revisions.
The car was 181 inches long.  It was originally offered with three engines—a 170 C.I. six cylinder, a 260 C.I. 2 bbl V8 or a 289 C.I. 4 bbl V8 and came with a three-speed, four-speed or automatic.
In ’65 the 170 six and 260 V8 were dropped for a 200 six and a 289 2bbl V8.
A GT package available on the two versions of the 289 4bbl V8's tightened up the suspension. The High Performance 289 helped straight-line fun with a gross HP rating of 271, probably about 200 net.
In ’65 the first Shelby prepped Mustang, the GT350, became available.  The early Shelbys were the most race-like of the Shelby Mustangs.  In later years they were done in house by Ford and and lost some of their sporting edge.  Shelby built an average of 2,000 cars a year from 1965 to 1970.  The '65 Shelby GT350 came with a 306 HP version of the HiPo motor.  In '66 a 400 HP supercharged version was also available.