The Foxbody Mustang offered a variety of engines during its run, including an inline-four, an inline-six, a V6 and a V8. Four or five-speed manuals were standard as well as three or four-speed automatics. The appearance of this Mustang took on a more modern look with less heft than the earlier generation, a direction that was more inline with the first Mustang generation and a move away from the Mustang II.
Initial sales volumes were decently strong at 370,000 units, followed by a second year of 271,322 sales in 1980. Volumes did nothing much till 1986 when sales jumped to 224,410 for the model year. 1988 was another strong year that broke the magic 200k units per year number.
The market fell out of favor with the third generation Mustang in 1991 when the base Mustang price broke $10,000 price point. Updates did not do much to stem the decline in those last few years until its final year of production in 1993. It is unclear what drove that increase as changes were minimal.