The third-generation Mustang was produced by Ford from 1979 until 1993. Built on Ford's Fox platform, it is commonly referred to as the Fox body Mustang. It evolved through several sub-models, trim levels, and drivetrain combinations during its production life. It underwent updates for the 1987 model year and seemed destined for replacement with a front-wheel drive Mazda platform. However, company executives were swayed by consumer opinion and the rear-wheel drive Mustang stayed, while the front-wheel drive version was renamed the Ford Probe. Enthusiasts group the generation into two segments: the 1979–1986 cars, with their quad headlight arrangement, and the 1987–1993 cars, with their aerodynamic composite headlamps and front fascia styling. Production ended with the introduction of the fourth-generation Mustang (SN-95) for the 1994 model year.

The Ford Fox platform is an automobile platform that was used by Ford Motor Company. Introduced for compact sedans in the 1978 model year, the Fox architecture was utilized for a wide variety of configurations for Ford and Lincoln-Mercury vehicles. In its original form, the platform was used through the 1993 model year; a substantial redesign of the Ford Mustang extended its life into the 21st century, ending production in 2004. Produced across 26 model years, the Fox platform is the second-longest car architecture ever designed by Ford Motor Company.