The Mustang was heavily advertised during the latter part of it's development. On April 16, 1964, the day before it's release, Ford ran simultaneous commercials at 9:30pm on all three major television networks, ABC, NBC, and CBS. The following day, April 17, 1964, people "attacked" the Ford showrooms. Everyone was in a frenzy to be one of the first to own the Mustang. Ford sold over 22,000 Mustangs the first day. By the end of the year, Ford had sold 263,434. By the end of the Mustang's first anniversary, April 17, 1965, Ford had sold 418,812 Mustangs. The Mustang had made a name for itself, and it was here to stay!!!

The 1964½, as it was later called, was available in only two models: the coupe and convertible. Both models featured a lengthened hood and shortened rear deck, chrome wrap-around bumpers, chrome grille with a running horse, and full wheel covers.

Both models were available with a 170 cid, 101 horsepower, 6 cylinder engine, a 260-2V, 164 horsepower V-8, a 289-4V, 210 horsepower V-8 and, starting in June, a fire breathing, 4 barrel, solid lifter, 271 horsepower, 289 cid V-8 engine.

The buyer had a choice of a 3 speed, 4 speed or automatic transmission, and a variety of rear end gear ratios.

The interior featured "wall-to-wall" carpeting, front bucket seats or an optional front bench seat, rear bench seat, a sports car style steering wheel, floor mounted shifter, and full headliner.

There were a total of 121,538 Mustangs produced during the 64½ model run.