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Some minor changes to the Mustang occurred at the start of the normal 1965 model year production, five months after its introduction. These cars are known as "late 65's," and were built from April through September. First, there was an almost complete change to the engine lineup. The I6 engine made way for a new 200 cu in (3.3 L) version that produced 120 hp (89 kW). Production of the 260 cu in (4.3 L) engine ceased with the traditional end of the 1964 model year. It was replaced with a new 200 hp (150 kW) 289 cu in (4.7 L) engine with a two-barrel carburetor as the base V8. A 225 hp (168 kW) four-barrel carbureted version was next in line, followed by the unchanged "Hi-Po" 271 hp (202 kW) 289. The DC electrical generator was replaced by a new AC alternator on all Fords (the quickest way to distinguish a 1964 1/2 from a 1965 is to see if the alternator light on the dash says "GEN" or "ALT").
The now-famous Mustang GT was introduced as the "GT Equipment Package" and included a V8 engine (most often the 225 hp (168 kW) 289), grille-mounted fog lamps, rocker panel stripes, and disc brakes. A four-barrel carbureted engine was now available with any body style. Additionally, reverse lights were an option added to the car in 1965. The Mustang was originally available as either a hardtop or convertible, but during the car's early design phases a fastback model was strongly considered. The Mustang 2+2 fastback made its inaugural debut with its swept-back rear glass and distinctive ventilation louvers.
The standard interior features of the 1965 Mustang included adjustable driver and passenger bucket seats, an AM radio, and a floor mounted shifter in a variety of color options. Throughout the 1965 model year, Ford continued to add to the Mustang's interior options. The Interior Decor Group was popularly known as "Pony Interior" due to the addition of embossed running ponies on the seat fronts, and also included integral armrests, woodgrain appliqué accents, and a round gauge cluster that would replace the standard Ford Falcon instrumentation. Also available were sun visors, a (mechanical) remote-operated mirror, a floor console, and a bench seat. Ford would later offer an under-dash air-conditioning unit, and discontinue the vinyl with cloth insert seat option, offered only in early 1965 models.
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