With 39 years under its wheels, and 8 million buyers of the nameplate since it was launched, the Ford Mustang has etched a very special place into two generations of American car buyers.

In that time it went from a simple but sexy and affordable car aimed at the youth and young suburban market, to a bloated and overheavy beast and then back to an anorexic tinniness that was just a shadow of its original style. In recent years there's been something of a revival in the car's looks and concepts, and with the release this week (above) of the conceptual forms of the next generation of the first 'pony car', there is a future for what was almost an endangered species.

The original 1964 Mustang

When the Mustang was first unveiled, Ford chose the 1964 World's Fair in New York as its stage. A global audience sat and watched an automotive revolution roll into existence. Ford's timing couldn't have been better as the baby boom generation was just coming of car-buying age. The baby boomers wanted something very different from what their parents were driving. They wanted to express their own individuality. The Mustang was their answer.

The cars barely had time to relax between the production line and the showroom floor as dealers churned out more than 22,000 orders on the car's first day on sale.

It debuted at a price of $2,368 and weighed only 2,572 pounds. With its 170-cubic-inch, six-cylinder engine, three-speed, floor-mounted manual transmission and seating for four, it offered a comfortable ride and functional appeal.

Mustang rapidly evolved into a vehicle judged by much more than just numbers. In Chicago, a dealership closed early and called police to slow the stampeding Mustang prospects while a restaurateur invited his customers to sample his "hotcakes that were selling like Mustangs." Something special was happening.

One million were sold by March 1966. They were parked in everyone's driveway, but Ford was most excited about those people eagerly awaiting their first driver's license. They wanted their cars to be different and Mustang delivered.

The 19641/2 model was the patriarch of subsequent changes to hoods, interiors, headlamps and spoilers. As Mustang weaved in and out of different generations, the vehicle generated an iconic status. Running alongside the best European road cars, it soon became a racing-inspired legend.

Mustang needed racing as much as racing needed Mustang. Right out of the blocks, the pony car was a champion, taking both first and second place in the 1964 Tour de France International rally. By the end of the sixties, Mustang led the SCCA Trans-Am series.

1968 Mustang Coupe

Body styles and engine sizes changed throughout the decade. By 1969, the Mustang offered major style changes, a roomier and more luxurious interior and even more power. To performance enthusiasts, 1969 meant Mach 1, Boss 429 and Boss 302.

1975 Mustang with all the trimmings

Throughout the seventies and eighties, Mustang evolved from a stocky and imposing-looking machine to a vehicle with clean and crisp lines. The 1979 Mustang design wound up running a full 15 model years thanks in part to its performance roots.

1986 Mustang coupe

In 1987, the basic design became truly slick with a smoother nose, flush headlamps and black body trim, and in 1989, Mustang celebrated its 25th birthday and received another successful facelift.

1995 Mustang convertible

Dramatically restyled and churning with power, the 1994 Mustang got a performance pump from Ford's Special Vehicle Team (the second-generation SVT Cobra) and was sold to customers with the slogan "It is what it was." The rest of the decade molded the Mustang into a vehicle that mingled nostalgia with new lines and curves ... and, of course, more power.

The last major redesign of the Mustang came three years ago. Since then, the company has continually kept customer's excitement with special interest models like the Mustang Cobra, Cobra R racing edition and the Mustang Bullitt GT. For 2003, the Mustang Mach I returned replete with the "shaker" hood scoop and more than 300 horsepower.

It's been a long long road from there to here. But in looks at least, we seem to be getting back to the basics of what a Mustang was all about. Wild and free.

The Mustang Mach III Concept