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74 Mustang - Young Car With a Tradition and a Future
DEMOGRAPHICS OF THE "LOW SPECIALTY" MARKET
       Moreover, the significance of this group to the general economy and to the automobile industry is not confined to headcount. Because of rising levels of education, its income also is expected to increase dramatically.
       For example, the number of persons 25-to-34 earning more than $15,000 will increase from 15.5 per cent in 1970 to more than 36 per cent in 1980. And the portion of their income that can be spent on discretionary items will increase by more than 75 per cent!
       Another factor to note: The 25-to-34 yeares are prime ones for family formation. Project 80 estimated that the number of households head by persons from 25-to-34 will increase by 66 per cent between 1969 and 1980 - going from 11.2 million households to 18.6 million.
       No less than 85 per cent of the men, and 90 per cent of the women, between 25 and 34 are married. The percentage of families in this age range with at least on child is 85 per cent, and usually there are two or more.
       Increasing family size also means suburbanization, either apartment-style or home-buying. This, together with the increasing affluence of people this age noted above, makes them prime candidates for multiple-car ownership.
       In fact, the number of multiple-car families in the 25-to-34 age segment will zoom from 29.3 per cent in 1970 to 42 per cent by 1980.
       As to what qualities these typically young, mostly married college-trained, affluent but practical people look for in sport small cars, the 1972 National New Car Buyer Study points out the following:
     
  • Good value for the money      
  • Exciting style      
  • Handling and ease of operation      
  • Economy of operation

           In other words, these buyers want sporty, contemporary styling and agility at a good price.
           A picture emerges of strong demand for a specialized product for which no domestic car is specifically designed.
           The stage is set, much as it was a decade ago, when Ford Division stepped in to fill a void with a wonder car called the Mustang.
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