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1979 Ford Mustang Indy Pace Car
3dr Hatchback Coupe
8-cyl. 302cid/140hp 2bbl
#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good
$22,600*
-3.8%
#4 Fair condition#4 Fair
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Jan 2025
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1979-1993 Ford Mustang stats
Highest sale
$231,000
Lowest sale
$1,210
Most recent sale
$43,350
Sales
2190
Photos
44 photosImages may not reflect selected vehicle.
Past sales
$43,350
1986 Ford Mustang Saleen
47000 M
Standard
North America
Mar 26, 2025Bring a Trailer
View details
$45,937
1993 Ford Mustang 5.0 LX
11000 K
Standard
North America
Mar 25, 2025Bring a Trailer
View details
$18,112
1986 Ford Mustang SVO
21000 M
Standard
North America
Mar 25, 2025Bring a Trailer
View details
$38,062
1991 Ford Mustang 5.0 GT
6000 M
Standard
North America
Mar 23, 2025Bring a Trailer
View details
$13,335
1989 Ford Mustang 5.0 GT
75600 M
Automatic
North America
Mar 21, 2025Cars & Bids
View details
$14,175
1993 Ford Mustang 5.0 LX
71000 M
Automatic
North America
Mar 18, 2025Bring a Trailer
View details
Insurance
Protect your 1979 Ford Mustang from the unexpected for only $279 per year**
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**Figure based on a stock 1979 Ford Mustang valued at $22,600 with OH rates with $100/300K liability/UM/UIM limits. Actual costs vary depending on the coverage selected, vehicle condition, state and other factors. Hagerty determines final risk acceptance.
Model overview
Model description
Following the relatively short-lived Mustang II, Ford needed a winner to erase the reputation of its Pinto-based predecessor. What resulted has come to be known as the “Fox body” Mustangs, and would evolve well into the 1990s.
The ’79 Mustang featured “Euro” styling, including the egg-crate grille, and squared off headlights, but distinctly American too, with its “notch” rear window design. The hatchback or “fastback” design was also available, and would go on to become the more desirable variant. The Mustang was sold in base and Ghia trims for ’79.
At the outset, the Mustang was available with four-, six-, or eight-cylinder engine options. The base 2.3-liter I4 was out of the Pinto and only made 88 hp. The available Cologne V-6 made 109 horsepower, but due to supply issues it had to be replaced with a 3.3-liter straight-six, which made a paltry 85 hp. Some of these more anemic engine options have likely long been swapped out for one of the plentiful crate engine options available on the aftermarket.
The top-tier engine was the 302 cid Windsor V-8. It technically displaced 4.95 liters, but was marketed as “5.0,” a term that resonates with the Mustang community as much as “Fox body.” For 1979, this engine made 140 horsepower and 250 pound-feet of toque.
A Mustang Cobra model was also offered, featuring either the 5.0 or the 2.3-liter turbocharged four, which made 132 horsepower and 142 pound feet of torque. The Cobra also featured a bold paint scheme and optional “Cobra” lettering on the doors and snake decal on the hood.
This year was available with a TRX handling package, which included 15.3-inch aluminum wheels, and revised suspension components and sway bars. The whole package was capped off by a set of eponymous Michelin TRX elliptical radials. If looking for originality, these tires are still sold in limited quantities by Coker Tire and others.
In 1979, the Mustang paced the Indy 500. Naturally, an Official Pace Car Edition was offered, featuring a silver-and-black paint scheme, added pin-striping and decals, a cowl induction hood, and spoiler. 10,478 examples were sold out of nearly 370,000, making it the rarest Pony from 1979.
Vehicle specifications
- Shipping Weight2800 lbs
- Vehicle Length179.1 in
- Wheelbase - Inches100.4 in
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Common Questions
The value of a 1979 Ford Mustang Indy Pace Car can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $22,600 for a 1979 Ford Mustang Indy Pace Car in good condition with average spec.
The highest selling price of a 1979 Ford Mustang Indy Pace Car at auction over the last three years was $71,500. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.
The lowest selling price of a 1979 Ford Mustang Indy Pace Car at auction over the last three years was $16,500. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.
In the last three years there have been 6 1979 Ford Mustang Indy Pace Cars sold at public auction.
The most recent auction sale of a 1979 Ford Mustang Indy Pace Car was $71,500 on January 16, 2025 by Mecum Auctions.
Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.
Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.
Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.
The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.