In 1980, no one believed this magazine would still be in print let alone witnessing the kind of passion for these cars that remains approaching three decades later. Hot Rod's Mustang magazine was launched as a newsstand one-shot annual in 1980. Two more Mustang annuals followed in 1981-82, produced by the editors of Hot Rod Magazine.
Because the editors at Hot Rod were themselves die-hard enthusiasts, Mustang was in the hands of people with a passion for exciting automobiles. The late Gray Baskerville was one of them. Gray left an indelible mark on anything he wrote about. He was an ordinary hot rodder who did extraordinary things in a career spanning more than three decades. Marlan Davis, technical editor at Hot Rod, weaved his magic at both Hot Rod and Mustang.
Petersen Publishing Company stuck its toe in the water and tested the classic Mustang niche before jumping in with both feet. Watching the apparent success smaller publishing companies were having with niche titles like Mustang Monthly, Petersen decided to take Mustang quarterly in the winter of 1982-83 with Volume 1, Number 1.
In 1980, classic Mustangs were still affordable, good-looking rides available for a song. And this is what inspired special interest magazines like this one, and our sister publication, Mustang Monthly. These new-found publications were niche titles that came of the resurgence of Mustang mania - renewed interest in the car that started the pony car stampede 16 years earlier.
Why the big interest in classic Mustangs in 1980? Because Ford Motor Company wasn't building exciting Mustangs at the time. The most powerful factory Mustang available at the time had a downsized 302 (255ci) with two-barrel carburetion, metric wheels and radials, and an optional fake convertible top. There was no GT nor was there a Mach 1. The Cobra name was so diluted by carbureted turbo four banger technology and cheesy looking graphics that it had lost its meaning. No one took the Cobra name seriously at the time. People who loved and appreciated Mustangs went with tried and proven rides like Mach 1, GT, Shelby, Boss, and more. An industry and subculture were born of a steamy, lingering passion for sporty classics.
Twenty-five years ago, you could snap up a Shelby or Boss Mustang for $1500 depending on condition and the seller. Garden-variety six and V-8 ponies could be had for anywhere from $100 to $1000. Some people were just happy to get these old clunkers out of their yards and driveways. Imagine being able to buy a convertible for under a grand. Ponder a 289 High Performance GT fastback for triple digits. Mach 1s could be gleaned out of the local classifieds for hundreds of dollars. Much of it had to do with price and availability of fuel in 1980 - and a huge sleeping market yet to be awakened.
Issue Number 1 debuted in 1980 as a one-shot MUSTANG annual loaded with all kinds of interesting content for Ford buffs. Hot Rod Magazine staff editor, Bruce Caldwell, was assigned the first issue of MUSTANG. Petersen one-shots or special interest publications (SIPs) were little more than newsstand test marketing efforts. If they sold well, they typically evolved into regular Petersen titles. Other Petersen titles started out the same way, including 5.0 MUSTANG, which debuted in 1993 as a Petersen one-shot. Ultimately, 5.0 MUSTANG became a Petersen regular that remains with us today at Primedia. | 
Issue Number 2 in 1981 wasn't a regular Petersen magazine. It was again a Petersen one-shot void of advertising - 96 pages of Mustang heaven. On the cover - Carroll Shelby's continuation '66 GT350 convertible - one of 12 scheduled to be built from existing rust-free desert convertibles. Also on the cover was Eddie Paul's outrageous IMSA-style Mustang fastback. Inside - Tom Simon's "Keep It Simple" '65 fastback. | 
Look at Eddie Paul's wild and crazy Mustang fastback. Purists didn't like it, but the masses did. In our second issue, we showed our readers how to achieve Eddie's wild and crazy look. |