According to a Ford analysis of IHS Markit data, the 2015-17 incarnation of the Ford Mustang has become the world’s best selling sports car.
2015 marked the first year that the Mustang was officially sold outside of the United States and in right-hand drive for the UK market. It seems that a large portion of the growth in sales of the car has come from the Chinese and German markets. Ford announced that the Mustang is now sold in 140 countries across the globe and that half of their total sales are delivered to customers outside the United States. The 2018 version of the Mustang is also set to break into new markets, including Brazil.
The Mustang is a brilliant car, and our boss, Bahrum Lamehdasht, has ordered a race red v8 5 litre version. But what has this got to do with economics? Well, nothing really. But it is a good example of not trusting all the statistics that you read. In empirical research, you should always delve into stats and explore exactly what they are showing. For instance, we don’t question the data that Ford are analysing, but the iconic Pony car is not the best selling sports car in the world, and it never can be. You see, the Mustang is not a sports car, its a muscle car. Undoubtedly, the Mustang is the best selling muscle car in the world.
We think the definition of a sports car is a 2 seater beast built for speed. Think of the Mercedes GTS, the Porsche 911 or the Jaguar F-type. If we go by the majority of polls, it seems that the Mazda MX-5 is the best selling sports car in the world.
So, there’s your lesson, don’t trust all statistics at face value … and buy a Mustang!!