Low-Mileage Indy Pace Car Fox Mustang Headed For Auction

The 1979 Mustang wasn’t just the first of a new model year; it set the pace for a new pony car reign after the Mustang II shepherded the legacy through dark times. One of the most recognizable versions of that first model year is the Indy Pace Car Edition, and a 2,189-mile example is headed to the block at Mecum Auctions in Indianapolis, Indiana, this month.

Built to commemorate Mustang pacing the 63rd running of the Indianapolis 500, the Pace Car Edition translated those on-track demonstrators into a limited-production Mustang. The production versions carried over that look with a combination of graphics, trim, and equipment that immediately set them apart on the showroom floor.

Finished in Pewter Metallic with black and orange accents, this example still presents all the details that defined the package. The front fascia integrates an air dam and factory fog lights, while the offset hood scoop adds a subtle performance cue. The graphics package remains a focal point, and the decals on this car are still in great shape.

Low-Mileage Four-Eye

Under the hood is Ford’s 5.0-liter V8, a familiar small-block that helped anchor the Mustang’s performance credentials during this transitional period. In 1979 trim, it was rated at 140 horsepower and 250 lb-ft of torque, delivering a broader, more accessible powerband than the available turbo four. Paired with a manual transmission, this is the engine that would eventually take the performance world by storm.

The interior of the Pace Car package also stands out from the standard Mustangs of that era, courtesy of high-back, Recaro seats. Trimmed in black and white, these seats are supportive, stylish, and iconic.

Low-mileage examples of an OG Fox Mustang, especially one with Pace Car provenance, are obviously hard to come by. So, if you want to add a rare four-eye to your collection, get your funds together because it crosses the block on Thursday, May 14th, and you can learn more about the auction here.