Ford has now made 10 million Mustangs: Here is a history of the iconic, best-selling sports car

2018 Ruby Red Mustang GT Coupe.
Source: Ford

Ford is announcing on Wednesday that it has made its 10 millionth Mustang, the best-selling two-door sports car that has been in continuous production since it was first introduced 54 years ago.

On Thursday, the second-largest U.S. automaker will unveil its new Nascar Mustang, which will replace the Fusion sedan Ford is phasing out of U.S. production.

It all speaks to the enduring influence power of the brand, which some at Ford say has become essential to Ford's identity, even in an era when buyers are turning away from traditional cars. Ford recently raised more than a few eyebrows when it said it was going to stop making most sedans and compact cars. But it's holding on tight to the Mustang.

This is in no small part because Mustang is practically a brand unto its own. It reliably delivers. It has been the best-selling two-door sports car around the world for three years running.

It can be bought for little more than $20,000, or more than $50,000. It can be sold to rental car agencies or to racing enthusiasts. It remains one of the most easily modifiable cars — there is a vast ecosystem of aftermarket parts suppliers and shops that will work on the car.

1964 Worlds Fair Ford Mustang introduction. 
Source: Ford

The car debuted at the World's Fair in 1964, the same day it rolled into showrooms. It was a unique vehicle — a fast two-door car that was meant to be affordable. That's essentially the same formula Ford has followed with every generation of Mustang that followed.

1978 Ford Mustang II King.
Source: Ford

Over the years, Ford has introduced special edition vehicles, including the Boss Mustang and the Mach1 Mustang. The limited editions give engineers and designers a chance to experiment.

1987 Ford Mustang GT convertible.
Source: Ford

The classic Mustang formula has left room for many shapes. One of the most famous is the so-called Fox Body Mustang that Ford used from 1979 to 1993. This design deviated in many ways from the classic Mustangs of previous generations.

1994 Ford Mustang GT coupe.
Source: Ford

In the 1990's, Ford updated the Fox Body design for the car's fourth generation.

2005 Ford Mustang GT convertible.
Source: Ford 

In 2005, Ford decided to return to roots, and designed the new Mustang to look more like the classic Mustangs of the 1960s.

2007 Ford Mustang.
Source: Ford

Ford has kept up the tradition of Carroll Shelby, who was a racer, designer and entrepreneur after whom Ford named the Shelby Mustang. All Shelby Mustangs now are known by the cobra logo found on the front grille of the car, a nod to the original Ford-powered AC Cobra cars Carroll Shelby first developed.

2015 Ford Mustang. 
Source: Ford

In 2015 Ford changed the design again to incorporate elements of the car's heritage with a newfound focus on making the car competitive on the track.

It was the sixth generation of the vehicle and the first year in more than five decades Ford started selling the car outside the U.S. Its move into the international market spurred many of the changes to the vehicle that made it more competitive with track-ready sports cars, such as an independent rear suspension.

2019 Mustang Bullit.
Source: Ford

One of the most famous limited-edition versions of the car is the Bullitt Mustang, shown above. The car is named after the 1968 movie "Bullitt," in which the actor Steve McQueen drives a green Mustang. The film features a legendary chase scene involving the Mustang and a Dodge Charger.

Ford GT-500
Source: Ford Motor Company

Ford said it also plans to release the Shelby GT500 Mustang in 2019, which is intended to compete with other high-powered American sports cars, such as the Chevrolet Camaro ZL1 and the Dodge Challenger Hellcat.

2018 Kona Blue Mustang.
Source: Ford

Earlier this year, Ford CEO Jim Hackett said the company will eventually phase out sedans and compact cars. Ford Mustang was one of only two conventional cars the company will continue to sell once the transition is complete. That's because the Mustang has such a strong following and is so deeply intertwined with Ford's identity, said Ford marketing manager Jason Mase.

"It's kind of the soul of the company," he said.