The Ford Mustang, an American icon, has been in continuous production for over 50 years. The original 1965 Mustang was unveiled on April 17, 1964 at the New York World’s Fair. Since then, more than 9 million Mustangs have been produced.

The Mustang, now in its sixth generation, has went through many changes in design and performance as well as price. 24/7 Wall St. compared retail prices of the base model Mustang in each production year. The original base model cost $2,321 in 1965, or $17,447 in 2015 dollars. Since then, the price has increased to $24,645 for a 2017 Mustang, the most expensive base model in history. The base model Mustang was the cheapest in 1978, costing only $13,890.

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Including the “1964 ½” models, as well as the infamous Shelby, 681,551 Mustangs were produced in 1965, more than in any other year. The number produced in 1965 was three times higher than the average annual production in the following 50 years.

Click here to see what a Mustang looked like the year you were born.

The standard Mustang engine has also changed considerably over the years. The first Mustang came standard with a 170 cubic inch, 6-cylinder engine producing 101 horsepower. As with many muscle cars in the 1970s, the oil crisis caused base model engines to shrink. In the Mustang’s case, a 4-cylinder engine with only 88 horsepower was standard for over a decade. Even the largest engine available in 1974 — directly after the 1973 oil embargo — was barely larger than the standard engine in the original Mustang and produced only 105 horsepower.

Mustang engines since 1990 have steadily increased in size, likely because of the resurgence of the muscle car culture. Since demand for early generations of muscle cars has increased from older Americans desiring to purchase the cars of their youth, many car manufacturers have revived models from the past or redesigned current models in a classic style. For the Mustang, this came in the form of the return of the Shelby, which alluded to the first generation with body styling, and a massive increase in engine size.

To compare the cost of a Mustang through the years, 24/7 Wall St. compared base model retail prices from 1964 ½ through 2015 as documented by Peter C. Sessler in the Mustang Red Book. The publication is not affiliated with the Ford Motor Company. We used the Red Book on the recommendation of Ford representatives, however. Inflation adjusted prices are in 2015 dollars. Production data and engine sizes are also from the Mustang Red Book.

(1965 Ford Mustang Fastback)

> Base model price: $2,321
> Inflation adjusted price: $17,447 (22nd lowest)
> Total production: 681,551 (the highest)
> Base model engine: 170 ci 1V 6 cyl 101hp
> Largest engine option: 289 ci V-8 306hp (Shelby)

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(1966 Ford Mustang Fastback)

> Base model price: $2,416
> Inflation adjusted price: $17,635 (25th lowest)
> Total production: 609,946 (2nd highest)
> Base model engine: 200 ci 1V 6 cyl 120 hp
> Largest engine option: 289 ci V-8 306hp (Shelby)

(1967 Ford Mustang Fastback)

> Base model price: $2,461
> Inflation adjusted price: $17,479 (23rd lowest)
> Total production: 475,346 (3rd highest)
> Base model engine: 200 ci 1V 6 cyl 120 hp
> Largest engine option: 428 ci V-8 355hp (Shelby)

(1968 Ford Mustang)

> Base model price: $2,579
> Inflation adjusted price: $17,565 (24th lowest)
> Total production: 321,855 (6th highest)
> Base model engine: 200 ci 1V 6 cyl 120 hp
> Largest engine option: 428 ci 4-V V-8 335hp (Cobra Jet)

(1969 Ford Mustang Boss 429)

> Base model price: $2,618
> Inflation adjusted price: $16,914 (17th lowest)
> Total production: 302,977 (7th highest)
> Base model engine: 200 ci 1V 6 cyl 115 hp
> Largest engine option: 429 ci 4V V-8 375hp (Boss)

(1970 Ford Mustang Boss 429)

> Base model price: $2,721
> Inflation adjusted price: $16,602 (16th lowest)
> Total production: 190,727 (14th highest)
> Base model engine: 200 ci 1V 6 cyl 120 hp
> Largest engine option: 429 ci 4V V-8 375hp (Boss)

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(1971 Ford Mustang Mach 1)

> Base model price: $2,911
> Inflation adjusted price: $17,042 (18th lowest)
> Total production: 149,678 (23rd lowest)
> Base model engine: 250 ci 1V 6 cyl 145hp
> Largest engine option: 429 ci 4V V-8 375hp (CJ-R)

(1972 Ford Mustang)

> Base model price: $2,679
> Inflation adjusted price: $15,186 (7th lowest)
> Total production: 125,093 (11th lowest)
> Base model engine: 250 ci 1V 6 cyl 98 hp
> Largest engine option: 351 ci 4V V-8 275hp

(1973 Ford Mustang Mach 1)

> Base model price: $2,760
> Inflation adjusted price: $14,724 (5th lowest)
> Total production: 134,867 (17th lowest)
> Base model engine: 250 ci 1V 6 cyl 99hp
> Largest engine option: 351 ci 4V V-8 266hp (CJ)

(1974 Ford Mustang II)

> Base model price: $3,134
> Inflation adjusted price: $15,061 (6th lowest)
> Total production: 385,993 (4th highest)
> Base model engine: 2.3L 2V 4 cyl 88hp
> Largest engine option: 2.8L 2V V-6 105hp

(1975 Ford Mustang II Ghia)

> Base model price: $3,529
> Inflation adjusted price: $15,538 (11th lowest)
> Total production: 188,575 (16th highest)
> Base model engine: 2.3L 2V 4 cyl 88hp
> Largest engine option: 5.0L 2V V-8 140hp

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(1976 Ford Mustang II Mach 1)

> Base model price: $3,525
> Inflation adjusted price: $14,674 (3rd lowest)
> Total production: 187,567 (17th highest)
> Base model engine: 2.3L 2V 4 cyl 88hp
> Largest engine option: 5.0L 2V V-8 140hp

(1977 Ford Mustang II)

> Base model price: $3,678
> Inflation adjusted price: $14,380 (2nd lowest)
> Total production: 153,173 (25th lowest)
> Base model engine: 2.3L 2V 4 cyl 92hp
> Largest engine option: 5.0L 2V V-8 134hp

(1978 Ford Mustang II King Cobra)

> Base model price: $3,824
> Inflation adjusted price: $13,891 (the lowest)
> Total production: 192,410 (13th highest)
> Base model engine: 2.3L 2V 4 cyl 88hp
> Largest engine option: 5.0L 2V V-8 139hp

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(1979 Ford Mustang)

> Base model price: $4,494
> Inflation adjusted price: $14,674 (4th lowest)
> Total production: 369,936 (5th highest)
> Base model engine: 2.3L 2V 4 cyl 88hp
> Largest engine option: 5.0L 2V V-8 140hp

(1980 Ford Mustang LX Coupe)

> Base model price: $5,338
> Inflation adjusted price: $15,356 (8th lowest)
> Total production: 271,322 (8th highest)
> Base model engine: 2.3L 2V 4 cyl 88hp (MT), 90hp (AT)
> Largest engine option: 4.2L 2V V-8 119hp

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(1981 Ford Mustang Cobra)

> Base model price: $5,897
> Inflation adjusted price: $15,369 (9th lowest)
> Total production: 182,552 (19th highest)
> Base model engine: 2.3L 2V 4 cyl 88hp
> Largest engine option: 4.2L 2V V-8 120hp

(1982 Ford Mustang GT)

> Base model price: $6,345
> Inflation adjusted price: $15,577 (12th lowest)
> Total production: 130,418 (14th lowest)
> Base model engine: 2.3L 2V 4 cyl 88hp
> Largest engine option: 5.0L 2V V-8 157hp

(1983 Ford Mustang Convertible)

> Base model price: $6,727
> Inflation adjusted price: $16,009 (13th lowest)
> Total production: 120,873 (10th lowest)
> Base model engine: 2.3L 1V 4 cyl 88hp
> Largest engine option: 5.0L 4V V-8 175hp

(1984 Ford Mustang SVO)

> Base model price: $7,089
> Inflation adjusted price: $16,165 (15th lowest)
> Total production: 146,740 (22nd lowest)
> Base model engine: 2.3L 1V 4 cyl 88hp
> Largest engine option: 5.0L 4V/EFI V-8 175/165hp

(1985 Ford Mustang GT Convertible)

> Base model price: $6,989
> Inflation adjusted price: $15,394 (10th lowest)
> Total production: 156,514 (25th highest)
> Base model engine: 2.3L 1V 4 cyl 88hp
> Largest engine option: 5.0L EFI/4V V-8 165/210hp

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(1986 Ford Mustang)

> Base model price: $7,420
> Inflation adjusted price: $16,031 (14th lowest)
> Total production: 224,410 (9th highest)
> Base model engine: 2.3L 1V 4 cyl 88hp
> Largest engine option: 5.0L EFI V-8 200hp

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(1987 Ford Mustang GT)

> Base model price: $8,271
> Inflation adjusted price: $17,253 (19th lowest)
> Total production: 159,145 (24th highest)
> Base model engine: 2.3L 1V 4 cyl 88hp
> Largest engine option: 5.0L EFI V-8 225hp

(1988 Ford Mustang)

> Base model price: $8,835
> Inflation adjusted price: $17,703 (25th highest)
> Total production: 211,225 (11th highest)
> Base model engine: 2.3L 1V 4 cyl 88hp
> Largest engine option: 5.0L EFI V-8 225hp

(1989 Ford Mustang Convertible)

> Base model price: $9,050
> Inflation adjusted price: $17,305 (21st lowest)
> Total production: 209,769 (12th highest)
> Base model engine: 2.3L 1V 4 cyl 88hp
> Largest engine option: 5.0L EFI V-8 225hp

(1990 Ford Mustang Convertible)

> Base model price: $9,753
> Inflation adjusted price: $17,691 (26th highest)
> Total production: 128,189 (12th lowest)
> Base model engine: 2.3L EFI 4 cyl 88hp
> Largest engine option: 5.0L EFI V-8 225hp

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(1991 Ford Mustang)

> Base model price: $10,702
> Inflation adjusted price: $18,627 (23rd highest)
> Total production: 98,737 (7th lowest)
> Base model engine: 2.3L EFI 4 cyl 105hp
> Largest engine option: 5.0L EFI V-8 225hp

(1992 Ford Mustang Convertible)

> Base model price: $10,215
> Inflation adjusted price: $17,254 (20th lowest)
> Total production: 79,280 (3rd lowest)
> Base model engine: 2.3L EFI 4 cyl 105hp
> Largest engine option: 5.0L EFI V-8 225hp

(1993 Ford Mustang GT)

> Base model price: $11,159
> Inflation adjusted price: $18,305 (24th highest)
> Total production: 119,328 (9th lowest)
> Base model engine: 2.3L EFI 4 cyl 105hp
> Largest engine option: 5.0L EFI V-8 235hp

(1994 Ford Mustang GT)

> Base model price: $13,365
> Inflation adjusted price: $21,369 (22nd highest)
> Total production: 137,074 (19th lowest)
> Base model engine: 3.8L EFI V-6 145hp
> Largest engine option: 5.0L EFI V-8 240hp

(1995 Ford Mustang Convertible)

> Base model price: $14,530
> Inflation adjusted price: $22,598 (14th highest)
> Total production: 185,986 (18th highest)
> Base model engine: 3.8L EFI V-6 145hp
> Largest engine option: 5.8L EFI V-8 300hp

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(1996 Ford Mustang GT)

> Base model price: $15,180
> Inflation adjusted price: $22,935 (10th highest)
> Total production: 135,620 (18th lowest)
> Base model engine: 3.8L EFI V-6 150hp
> Largest engine option: 4.6L EFI V-8 305hp (SVT Cobra)

(1997 Ford SVT Mustang Cobra)

> Base model price: $15,880
> Inflation adjusted price: $23,445 (3rd highest)
> Total production: 108,344 (8th lowest)
> Base model engine: 3.8L EFI V-6 150hp
> Largest engine option: 4.6L EFI V-8 305hp (SVT Cobra)

(1998 Mustang GT Convertible)

> Base model price: $16,150
> Inflation adjusted price: $23,480 (2nd highest)
> Total production: 175,522 (20th highest)
> Base model engine: 3.8L EFI V-6 150hp
> Largest engine option: 4.6L DOHC EFI V-8 305hp (SVT Cobra)

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(1999 Ford Mustang GT Convertible)

> Base model price: $16,470
> Inflation adjusted price: $23,432 (4th highest)
> Total production: 133,637 (15th lowest)
> Base model engine: 3.8L EFI V-6 190hp
> Largest engine option: 4.6L DOHC EFI V-8 320hp (SVT Cobra)

(2000 Ford SVT Mustang Cobra)

> Base model price: $16,520
> Inflation adjusted price: $22,737 (13th highest)
> Total production: 215,693 (10th highest)
> Base model engine: 3.8L EFI V-6 190hp
> Largest engine option: 5.4L SOHC EFI V-8 SVT (Cobra R)

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(2001 Ford Mustang Bullitt GT)

> Base model price: $17,095
> Inflation adjusted price: $22,884 (11th highest)
> Total production: 163,818 (22nd highest)
> Base model engine: 3.8L EFI V-6 193hp
> Largest engine option: 4.6L DOHC EFI V-8 320hp (SVT Cobra)

(2002 Ford Mustang GT Convertible)

> Base model price: $17,475
> Inflation adjusted price: $23,025 (9th highest)
> Total production: 145,518 (21st lowest)
> Base model engine: 3.8L EFI V-6 193hp
> Largest engine option: 4.6L SOHC EFI V-8 260hp

(2003 Ford Mustang Mach 1)

> Base model price: $17,720
> Inflation adjusted price: $22,824 (12th highest)
> Total production: 150,895 (24th lowest)
> Base model engine: 3.8L EFI V-6 190hp
> Largest engine option: 4.6L DOHC EFI V-8 S/C 390hp (SVT Cobra)

(2004 SVT Mustang Cobra)

> Base model price: $17,865
> Inflation adjusted price: $22,413 (19th highest)
> Total production: 143,312 (20th lowest)
> Base model engine: 3.8L EFI V-6 193hp
> Largest engine option: 4.6L DOHC EFI V-8 S/C 390hp (SVT Cobra)

(2005 Ford Mustang Convertible)

> Base model price: $19,215
> Inflation adjusted price: $23,321 (6th highest)
> Total production: 159,587 (23rd highest)
> Base model engine: 4.0L EFI V-6 210hp
> Largest engine option: 4.6L SOHC 3V EFI V-8 300hp

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(2006 Ford Mustang V-6 “Pony Package”)

> Base model price: $19,115
> Inflation adjusted price: $22,476 (18th highest)
> Total production: 165,762 (21st highest)
> Base model engine: 4.0L EFI V-6 210hp
> Largest engine option: 4.6L SOHC 3V EFI V-8 300hp

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(2007 Ford Mustang Shelby GT500)

> Base model price: $19,250
> Inflation adjusted price: $22,003 (20th highest)
> Total production: 189,087 (15th highest)
> Base model engine: 4.0L EFI V-6 210hp
> Largest engine option: 5.4L 4V V-8 500hp

(2008 Ford Mustang Shelby GT500KR)

> Base model price: $19,650
> Inflation adjusted price: $21,635 (21st highest)
> Total production: 129,125 (13th lowest)
> Base model engine: 4.0L EFI V-6 210hp
> Largest engine option: 5.4L 4V V-8 500hp

(2009 Ford Mustang Shelby GT500KR)

> Base model price: $20,430
> Inflation adjusted price: $22,566 (16th highest)
> Total production: 52,193 (2nd lowest)
> Base model engine: 4.0L EFI V-6 210hp
> Largest engine option: 5.4L 4V V-8 540hp

(2010 Ford Mustang Cobra Jet)

> Base model price: $21,395
> Inflation adjusted price: $23,251 (7th highest)
> Total production: 81,508 (4th lowest)
> Base model engine: 4.0L EFI V-6 210hp
> Largest engine option: 5.4L 4V V-8 540hp

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(2011 Ford Mustang Shelby GT500 Convertible)

> Base model price: $22,145
> Inflation adjusted price: $23,334 (5th highest)
> Total production: 46,590 (the lowest)
> Base model engine: 3.7L EFI V-6 305hp
> Largest engine option: 5.4L 4V V-8 550hp

(2012 Ford Mustang GT “Blue Angels Edition”)

> Base model price: $22,310
> Inflation adjusted price: $23,029 (8th highest)
> Total production: 94,981 (6th lowest)
> Base model engine: 3.7L 4V EFI V-6 305hp
> Largest engine option: 5.4L 4V V-8 550hp

(2013 Ford Mustang Convertible)

> Base model price: $22,200
> Inflation adjusted price: $22,584 (15th highest)
> Total production: 91,976 (5th lowest)
> Base model engine: 3.7L EFI V-6 305hp
> Largest engine option: 5.8L SC DOHC 4V V-8 650hp

(2014 Ford Mustang Convertible)

> Base model price: $22,510
> Inflation adjusted price: $22,537 (17th highest)
> Total production: 134,082 (16th lowest)
> Base model engine: 3.7L EFI V-6 305hp
> Largest engine option: 5.4L 4V V-8 662hp

(2015 Ford Mustang)

> Base model price: $24,425
> Inflation adjusted price: N/A
> Total production: N/A
> Base model engine: 2.3L EcoBoost 4 310hp
> Largest engine option: 5.0L EFI V-8 435hp

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