Pony car

Pony car is an American car classification for affordable, compact, highly styled coupés or convertibles with a "sporty" or performance-oriented image. Common characteristics include rear-wheel drive, a long hood, a short deck, bucket seats, room for four, a wide range of options to individualize each car and use of mass-produced parts shared with other models. The popularity of pony cars is largely due to the launch of the Ford Mustang in 1964, which created the niche and term.
There is much debate among enthusiasts about the exact definition of a pony car, and what differentiates the vehicle from a muscle car. The general consensus is that pony cars are smaller and more homogeneous in their form than muscle cars. A few intermediate-size vehicles, such as the Dodge Challenger, may be considered to belong to both categories.

History

1960–1963: Predecessors

In the early 1960s, Ford, Plymouth, and AMC began noticing the rising interest in small, sporty cars, and the increasing importance of younger buyers. In order to convince the management of Ford to approve a small, sporty car for production, the Budd Company built a prototype two-seat roadster called the XT-Bird. The XT-Bird was built using the compact car chassis of the Ford Falcon with a modified 1957 Ford Thunderbird body. Ford rejected the proposal, preferring to design a four-seat sporty car instead which would expand its sales volume.
The Budd Company then approached American Motors Corporation with the Budd XR-400 prototype, which was based on a 1962 AMC Ambassador two-door with a shortened chassis and the body moved rearward to allow for a longer hood. The automaker's "management expressed interest in a new car with a sports flair" and work on the AMC Rambler Tarpon, a 2+2 coupe with an elongated fastback roof, began in early 1963.
Examples of production cars that included sporty and youthful appeal include the 1960 Chevrolet Corvair. Initially positioned as an economy car, the Corvair's plusher-trimmed and sportier Monza model sold around 144,000 units by 1961. The Corvair Monza's bucket seats and floor-mounted transmission shifter started a trend toward these features being offered in cars ranging from compacts to full-size cars. Competing models inspired by the Corvair Monza included the Ford Falcon Futura and Futura Sprint models and the Rambler American 440-H and Rogue models. Most sporty compacts were powered by the same economical six-cylinder engines as their more mundane platform counterparts, but in some cases, optional V8 engines were available along with four-speed manual transmissions.

1964–1966: Initial pony cars released

The first entry into what would become known as the “pony car” marketplace was the Plymouth Barracuda, which went on sale on April 1, 1964. The Barracuda was released as a fastback coupe, based on the platform of the Plymouth Valiant compact car. Chrysler's precarious financial situation meant that there was a limited development budget for the Barracuda, which led to a compromised design. The Barracuda was criticized for having insufficient distinction from the Valiant and the styling drew mixed reactions. As a result, Barracuda sales were a fraction of the Mustang's.
At the Ford Motor Company, executive Lee Iacocca had commissioned studies that suggested a market for a unique-looking, affordable sporty car. This led to the development of a sporty 2+2 car based on the Ford Falcon platform, launched on April 17, 1964, as the 1965 Ford Mustang. Sporting a long hood and short deck, it was offered as a two-door coupé and convertible. In its base specification, the drivetrain was typical of an economy car: a six-cylinder engine with a three-speed manual transmission. The base price included bucket seats, carpeting, floor shifter, sport steering wheel, and full-wheel covers. However, desirable options such as V8 engines, a four-speed manual gearbox, air conditioning, and power steering could increase the price by up to 60%, which made such versions very profitable for Ford.
The Mustang was an enormous success, with first-year sales forecasts of 100,000 units being shattered on the first day, when Ford dealers took orders for 22,000 vehicles, forcing the company to immediately increase production. The extended model year sales totaled 618,812 Mustangs. The Mustang broke all post-World War II automobile sales records, "creating the 'pony car' craze soon adopted by competitors."
The 1965 Mustang provided the template for the new class of automobiles. The term "pony car" to describe members of its ranks was coined by Car Life magazine editor Dennis Shattuck. The characteristics of a pony car were generally defined as:

A sporty compact car for the masses, that could carry four people
Long hood, short deck profile, and "open mouth" styling
Affordable base price
Wide range of options to individualize each car
Manufactured using mass-produced parts shared with other models
Youth-oriented marketing and advertising

While most pony cars were produced with economical six-cylinder or small V8 engines, more powerful V8 engines and performance packages consistent with the “sporty car” image were offered. The most extreme models saw limited sales and were largely limited to drag racing, road racing, or motorsport homologation purposes.

1967–1970 Segment expands

Initially, General Motors believed that the restyled 1965 Chevrolet Corvair would be an adequate challenger for the Mustang. Initially successful, sales of the Corvair tanked in 1966 due to an infamous handling issue, and as a result, the more conventional front-engine, Nova-based Chevrolet Camaro was introduced for the 1967 model year. A few months later, the Camaro-based Pontiac Firebird was introduced.
The Mustang was redesigned for the 1967 model year and became the basis for the upscale Mercury Cougar on a longer wheelbase.
American Motors introduced its first pony car in 1967 with the 1968 model year Javelin. The car was described as a "roomy, comfortable, peppy and handsome example of a so-called pony car, the type of automobile that's showing up more and more on US highways."
In 1969 the 1970 model year Dodge Challenger joined the already crowded pony car segment. The Challenger was essentially an enlarged Barracuda.
The pony car market segment was maturing and all four domestic automakers were building versions of the long hood/short deck template that Ford had developed. The term pony car applied to all versions of these nameplates, from base models to the high-performance muscle car models, developed in league with factory supported racing to gain a marketing edge. The competition between the manufacturers was so fierce that the introduction and rollout of Trans-Am Series racing from 1966 to 1972 is described as a battle in "The Pony Car Wars".
While sales were strong throughout the end of the 1960s, pony cars' greater value was in generating brand loyalty, particularly among the crucial youth market. In 1970 Car and Driver reported that while very few pony car drivers bought a second, around 50% purchased another model from the same manufacturer. Even so, by as early as 1969 sales were beginning to slide, dropping to 9% of the total market from a peak of 13% in 1967.
Directly inspired by the Ford Mustang, Ford of Europe began production of the Ford Capri in 1968, while GM Europe introduced the Opel Manta and Vauxhall Firenza. In April 1970, the Capri began to be imported from Europe and was sold in Lincoln-Mercury dealerships.
The success of the Mustang also inspired the creation of the Toyota Celica compact coupe, which was released in 1970. Toyota had earlier introduced the 1967 Toyota 1600GT 2-door hardtop and installed a DOHC I4 cylinder engine with dual carburetors and a 5-speed manual transmission. Like the Mustang, the Celica was built using the platform of an economy car; although the Celica was shorter than the Mustang and did not offer a V8 engine. Several Japanese automakers sold compact coupes in the United States as smaller competitors to pony cars. However, no Japanese manufacturer produced a pony car.

1971–1975: Larger cars, declining sales

As with many automobile redesigns, each subsequent generation of the pony cars grew larger, heavier, costlier, and more comfort-oriented. This trend was also influenced by many late 1960s and early 1970s pony car buyers purchasing optional equipment and models with higher prices. Examples of the increasing size and weight of pony cars are:

The 1970 Dodge Challenger was only slightly smaller externally than the intermediate-sized four-door Dodge Coronet sedan. The Challenger was less than lighter than a typical intermediate sedan.
The 1971 AMC Javelin was long, which is longer than the 1965 Ford Mustang.
The 1973 Ford Mustang was longer, wider, and over heavier than the original 1965 Mustang.

Big block V8 engines became available in pony cars, which increased straight-line performance but underscored the limitations of the suspension, brakes, and tires. The six-cylinder and lower-specification V8 engines struggled with the increased weight of the pony cars.
By 1970 buyers were moving away from the pony cars, either toward smaller compact cars or the more luxurious personal luxury cars. The pony car market was also hindered by high insurance rates and increased restrictions on performance cars. Since 1968, power outputs of the performance models had been eroding as a result of stricter vehicle emissions controls. By 1972, small imported sports cars were increasing in popularity, and the domestic pony cars were not selling well. Industry observers believed that the Chevrolet Camaro and Pontiac Firebird might be discontinued after the 1973 model year.
The 1973 oil crisis left the large and heavy pony cars out of step with the marketplace. The Mustang, which had grown to become an intermediate-sized car and alienated buyers, was downsized for its second-generation; this 1974 Ford Mustang II was marketed as a fuel-efficient model with luxury or sporty trim packages. Inspired by smaller imported sporty cars such as the Toyota Celica and Ford Capri, the new Mustang II was unveiled a few months prior to the 1973 oil embargo. Ford "decided to call it Mustang II, since it was a new type of pony car designed for an era of high gas prices and fuel shortages." To compete with these new sporty subcompacts, General Motors introduced the 1975 Chevrolet Monza and its badge-engineered variants. GM's original pony cars were almost canceled, but remained in production.
Chrysler Corporation did not downsize its pony car models, but instead discontinued the Dodge Challenger and Plymouth Barracuda after the 1974 model year. The AMC Javelin was also canceled after 1974. The 1974 Mercury Cougar—originally designed as an upscale version of the Ford Mustang—left the pony car segment, as the vehicle was upsized and marketed in the personal luxury car segment.