Where did the Ford Mustang get its name?

Answer 1

The Concept and Design (1960-1963)

In the early 1960s, Ford General Manager Lee Iacocca pitched his vision of a fun-to-drive compact car to Ford board members. His emphasis was on a vehicle that would appeal to the Baby Boomer generation and would be based off of the popular Ford Falcon. Although it was a tough sell, Iacocca, along with supporters Donald Frey, Hal Sperlich, and Donald Petersen convinced Ford to move forward on the project.

Frey, an Executive Engineer for Ford, conceived the first prototype, the 1962 Mustang I concept, which was a mid-engine two-seater roadster. The name of the car was based on the legendary P-51 Mustang fighter plane from World War II. It debuted in October at the Grand Prix at Watkins Glen, New York, and was driven around the circuit by legendary racecar driver Dan Gurney. Iacocca, however, was looking for something different, and asked the designers to come up with a new design. In the spirit of competition, he devised an intramural design contest between three in-house studios. David Ash and John Oros of the Ford Studio took the prize.

Based on the Falcon, their Mustang featured a long-sweeping hood and a high-mounted grill with a Mustang prominently featured as its centerpiece. It also featured air-intakes in front of the rear wheels, with chassis, suspension, and drivetrain components taken from the Ford Falcon. The idea was to design a vehicle that was cheap to produce, while offering up the product quality of the Falcon. In fact, the Mustang and the Falcon shared many of the same mechanical parts. It was also identical in overall length, although the Mustang had a shorter wheelbase (68.2 inches). In spite of its many similarities, the Mustang did look completely different on the outside. It also had lower positioned seats and a lower ride height. And with that, the Ford Mustang was born.
The Ford Mustang was named after the P-51, a World War II fighter aircraft. There is a common misconception that it was named after the type of horse, even though the horse logo appears on the car.
The Ford Mustang, which was Bought by Ford Motor Company from Shelby in 1974 kept the name Mustang. Shelby named the car after the P-51 Mustang fighter/bomber planes from WW2.