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One of the most significant Mustangs ever produced was recently featured on “Jay Leno’s Garage,” where the comedian and noted automotive enthusiast was joined by Ford Motor Company Executive Chair Bill Ford. The car, now owned by Bill Ford, served as the pace car for the 1964 Indianapolis 500, where it was driven by Ford’s uncle, former Ford Motor Company Vice President and Chairman of the Dealer Policy Board, Benson Ford.
The car played an important role in Ford’s all-out marketing blitz for the new Mustang, which saw the company buy out the 9 p.m. programming slot on the three major broadcast networks – resulting in Mustang being seen by nearly 30 million viewers the day before its big reveal at the World’s Fair in New York City.
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The 1964 ½ Mustang Indy 500 pace car was driven by former Ford Motor Company Vice President and Chairman of the Dealer Policy Board, Benson Ford, uncle of company Executive Chair Bill Ford.
Mustang would officially be revealed to the world on April 17, 1964, the anniversary of which is celebrated by Ford employees worldwide each year. It was also included in the company’s Disney-built Magic Skyway exhibit at the World’s Fair. In addition to newspaper ads in more than 2,500 newspapers across the country, Ford also relied on strategically placed Mustangs in more than 70 locations throughout the U.S., such as airport terminals and hotels.
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Following its April 17, 1964 introduction, Mustang was a main attraction at the fair.
The car went on to become one of the most successful launches in automotive history. Ford forecast 100,000 units to be sold in the first year but moved more than 400,000 vehicles. The promotional flurry that preceded the booming sales was highlighted by the last-minute decision to use Mustang as the pace car for the Indianapolis 500 several weeks after its introduction. The car featured on the “Jay Leno’s Garage episode,” VIN No. 241, was one of the first Mustangs ever built and was among a trio of Wimbledon White Mustang convertibles rushed to Holman-Moody for tuning and numerous other modifications.
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Mustang VIN No. 241 and the two others which were modified for Indy pace-setting duty received significant upgrades to the engine and other components.
The most significant upgrade was made to the engine, which was replaced with a “K-code” 289 cubic-inch V8 engine capable of producing 271 horsepower, much more power than the cars’ 164-horsepower, stock V8 engines. The Holman-Moody-built engine used at Indy was a detuned version of the engine being developed for the GT40 Le Mans program and was installed to help meet the track-required top speed of 140 mph. The cars’ drivetrains were also modified, and their suspensions were made more track-ready with special shocks and other changes.
Bill Ford joined Leno to discuss and drive the Mustang pace car, while the duo shared other tidbits of Ford Motor Company nostalgia. Click here to watch.
Ford Motor Company Executive Chair Bill Ford appeared on “Jay Leno’s Garage.” Click here to watch.
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