The problem with achieving unheard-of sales in the automotive world is that you usually have nowhere to go but down. A case in point is the highly successful Ford Mustang. After a record year selling 607,000 Mustangs in 1966, its numbers dropped to 300,000 units in 1969 and then to under 200,000 a year later. By 1970, every major U.S. automaker was in the “pony car” game when this coupe was built. A roller now, some bodywork has been done with lots remaining, and the engine and transmission are sitting on a pallet. Located in Deland, Florida, this 55-year-old project is available here on craigslist for $5,000.

After a second restyle in 1969, the Mustang was largely the same car in 1970. Except that the one-year-only quad headlights were gone, back to duals again. And the taillights were recessed but held the same shape. The coupe was still the most popular choice, but the fastback (now called SportsRoof) and convertible were still very much in the mix. A good many of the ’70 Mustangs were built with a 302 cubic inch V8, and it’s likely this car was, too.

We assume this Mustang is a project that the seller has grown tired of. It comes with a 302 V8 and automatic transmission, but there’s no indication that either is original to the Ford. The former comes with GT40 heads and a 4-barrel carburetor, so it may be set up to be much faster than stock back in 1970. The seller says both may have been rebuilt, suggesting this car was a project when he/she got it, too.

While red primer adorns most of the body, the seller says the car needs “metal work in typical Mustang areas”. For the layperson, what does that mean and what’s the impact on the automobile’s unibody construction? The seller says these “Mustangs are getting harder to find” but at 191,000 copies assembled in 1970, that may mean that “nice” Mustangs are getting harder to find. Since there are no photos of the interior, we have no idea what’s at stake there. A nod goes to Mitchell G. for another Barn Finds tip.