The Mustang II was the best-selling Mustang since 1967, although it didn't last long: sales dipped significantly in 1975 and never recovered, despite Ford introducing a 302-cubic inch V8 that year.

The Mustang's early-1970s years were ones of excess, but that all changed in 1974. Lee Iacocca directed Ford to build a compact Mustang once again for the 1974 model year, and that's precisely ...