Ford's new Mustang actually is three cars in one, according to Lee A. Iacocca, Ford Motor Company vice president and Ford Division general manager. Starting with the economical, fun-to-drive basic Mustang, the buyer may select options to give him a sports car for street or competition use, or a luxury car geared to either economy or performance. Standard Mustang equipment in both hardtops and convertibles include bucket seats and molded nylon carpeting with a full-width seat in the rear. Options include a selection of three V-8 engines with up to 271 horsepower; 4-speed manual or 3-speed automatic transmission, handling package, center console, power brakes and steering, and air conditioning. Luxury options include a center console, power steering and brakes, and air conditioning. The new Mustang will be introduced by Ford dealers Friday, April 17. 
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 
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