* Generations: The Mustang has been produced in seven distinct generations, each with significant design and engineering changes. This is the most common way to categorize them.
* Sub-models/Trims: Within each generation, there are numerous sub-models and trim levels (e.g., GT, Convertible, Cobra, Bullitt, Mach 1, etc.). These offer different engine options, features, and styling. The number of these varies greatly by generation and year.
* Special Editions: Throughout its history, Ford has released many limited-edition Mustangs with unique features and badging. These could be considered separate models or simply variations.
Therefore, saying there are "X" models is misleading. There are seven generations, and within those, hundreds of variations depending on how you categorize them.