The original Ford Mustang was a product of the Fairlane Group, a committee of Ford managers and executives led by Vice-president and General Manager Lee Iacocca. The Fairlane Group worked on new product needs and, in the summer of 1962, laid out the specifications of a new sports car, the genesis of the mid-engined Mustang I concept car.
Ford Mustang I A total of two cars were completed; a detailed, but non-running fiberglass mock-up, and a fully functional car that debuted at the United States Grand Prix in Watkins Glen, New York on October 7, 1962.
For the next two years, both Mustang Is appeared at automotive events garnering enthusiastic reactions, especially from a youth demographic at colleges. Reactions from potential customers and focus groups, however, demonstrated that the original concept of the Mustang I had limited appeal to the general public. Ford executives also worried that the mid-engined sports car "... was too complex for regular production."