No, this isn’t the original pony car, though the Mustang did take its name from this concept unveiled at the 1962 U.S. Grand Prix. This Mustang marked the starting point for the development of what became the Ferrari-beating and four-time Le Mans-winning Ford GT40.
During the early 60's, Lee Iacocca, GM of Ford at the time, sought to create a new car to tap into the sprit and energy of young drivers. Iacocca asked for a car with sporty styling, great performance, and a reasonable price.
To garner creative concepts and models quickly, Gene Bordinat, then VP of Ford Design, staged a competition amongst his team of designers. Two weeks of non-stop sculpting led to seven different clay models. A model by Joe Oros was selected as the winner. That model was used to create this fully functional prototype.
Source: Internet
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