The Ford Mustang was conceived to appeal to women.

Launched in April 1964, it was based on the Ford Falcon economy car chassis with the first-year sales targeted to reach 100,000. It sold 400,000 the first year and coined the term “pony car” while other manufacturers played catch-up until 1968 when the Camaro came on-line.

The Mustang, named after the P-51 fighter plane of World War II fame, has now evolved through six generations and while Ford has no intention of “putting the pony out to pasture,” the future is uncertain with electric cars growing in popularity. Therefore, the seventh iterat...