By 1973, the Ford Mustang had become big and bloated, and its sales numbers reflected the buying public’s disappointment. So, the car was reinvented in 1974, losing 20 inches and at least 500 lbs., as it was now a subcompact billed as the Mustang II. The changes were well-timed with the OPEC oil embargo that resulted in fuel shortages and rising prices that played into the Mustang’s hands. The seller’s 1978 edition is a fastback that may be an ordinary Mustang with a Cobra engine installed later. Though it runs, it needs restoring, and can be found in Waterbury, Connecticut, and is available here on craigslist for $5,500. A nod to Barn Find Barney for the tip!
The Mustang II enjoyed a five-year run, replaced in 1979 with the Foxbody design that would carry the car into the 1990s. Because it was a subcompact, a 4-cylinder engine was standard with an optional V6 and the only choices in 1974. In 1975, the 302 cubic inch V8 could be had with the Mustang, and versions would be found in the Cobra II and the 1978 King Cobra. The seller’s time-worn car doesn’t appear to be either one, so we assume it was a regular I-4 or V6 with a Cobra engine added later.
The Cobra II 302 V8 wasn’t exactly a barnstormer with 134 hp rated SAE net. But it may have put the smaller Mustang II on similar footing with a 1965 Mustang, which was a 289 2-barrel. According to the seller, this Ford was in hiding in a barn for 20 years. It has recently been extracted and made to at least start up. We’re not told what that required or how much more is needed. The 302 is paired with an automatic transmission, and the odometer reads 99,000 miles.
From the outside, the body and silver paint are a little rough, and we assume that part is worth saving. The red interior is surprisingly nice considering it may not have seen daylight since the early part of the century. Assuming a non-Cobra Mustang II with a Cobra V8 is worth restoring, would you invest the time and money?
Russ, the 5.0 was available across all model lines in 1978. So coupled with the V8 badge on the front fender, I’d say this is a regular 2+2 fastback with a factory 5.0. Of course, it could be on its second engine.
I’m not surprised the paint is gone. The silvers and light blues of this era were particularly frail. That red interior is quite flashy.
Pretty rough, but perhaps someone will find it worth improving.
In the day, none of us wanted these. Time passes and the pedestrian Pontiac station wagon you posted the other day starts looking attractive. There’s something special about the pedestrian, boring cars we grew up in. Yes I’d buy one today, but would much rather have that station wagon.
The Mustang went from “big and bloated” in 1973 to small and bloated in 1974. It looks like a water-logged Pinto and its taillights are way too big for a car this size. These cars were ugly when new and have not improved with age.