The third generation Mustang (known to insiders as the Fox platform because it shared underpinnings with the Ford Fairmont) was an unexpected turnaround from the Mustang II. It featured clean styling, larger dimensions— but lighter weight—and a choice of hatchback or notchback styles (with the convertible returning in 1983).
Engines were carried over with the addition of a turbocharged 140-hp to 200-hp 4-cylinder power plant. Suspension was MacPherson front with a live rear, a handling package was optional. GT, Cobra, LX V8 and SVO versions are the best, but the 5.0 convertible is fun for the money.