There are far fewer iconic brands in the world than marketers claim. An icon has to outlast its generation and outwit its competitors. It has to communicate something about its owner, and not necessarily that he, or she, has money. That is far too obvious.

There is also the danger that iconic brands may become so big and unwieldly – larger than life almost – that they easily slip from a company’s grasp as they are prodded forward, often under close, almost obsessive, public scrutiny, as well as the close attention of bean-counters insistent on making a profit.

It the Ford Mustang such a brand?

Perhaps the better question is: Would your future grandkids or great-grandchildren want to own a 2015 Mustang, decades on from the original leaving the assembly line?

I have a suspicion the answer is yes.

Brand recognition, even today – as was evident on the streets of Cape Town at this week’s launch – spans the generation, gender and race gap. It stretches back to 1964 when James Bond, in Goldfinger, killed off an assassin driving the first Mustang to make its movie debut.

In 1968 Steve McQueen drove a Mustang GT390 in a famous ten-minute car chase in and around San Francisco in the movie Bullitt.

Today the Mustang has appeared in more than 3 700 movies. It has been on the road for 50 years, having sold more than 9.2-million units. And now it is also, finally, available in South Africa, in the guise of the 2015 Ford Mustang fastback and convertible models, both featuring that famous angry-fist look.

Apart from the body style, you can also pick your pony’s horsepower.

On offer is a 5 l, V8 engine offering 306 kW of power and 530 Nm of torque. Zero to 100 km/h happens in 4.8 seconds.

Viewed as a sacrilege by some fans, a frugal, but still eager 2.3 l four-cylinder EcoBoost engine produces 233 kW of power and 430 Nm of torque, reaching 100 km/h in 5.8 seconds.

Good for an everyday commute, this one – more Frank Sinatra than Rocky Balboa – will leave some money in your wallet at the end of the month.

While both engines are quick on the draw, the V8 brawler is definitely the one that produces more of a punch and a growl, even if somewhat toned down in line with modern noise dampening technology.

Customers can also choose between a six-speed manual or auto transmission. Launch control on the 5 l manual derivative helps the driver not to stall the engine when pulling away at the traffic light.

Inside the Mustang features a clean-looking cockpit-type dashboard, with comfortable seats and eight airbags. Technology does not control the driving process, with the driver in charge of the steering wheel.

At home in all environments – bar perhaps tight parking spots, that bonnet goes on forever – the open road does feel more like a Mustang’s natural habitat.

The boot can take two golf bags.

Service intervals are at 20 000 km. The Mustang is sold with a four year/120 000 km warranty and five year/100 000 km service plan.

Pricing starts at R699 900.

It takes, however, more than a healthy bank account to become a Mustang owner. It also requires some patience.

Ford Motor Company brand manager Kuda Takura says there is “a year and a bit” waiting list for a Mustang in South Africa.

Availability is limited to between 35 and 40 a month, “married to an already extensive waiting list”.

This limited availability has not been artificially created in order to breed exclusivity, but is owing to limited supply from a single production plant in the US, he says.

“We hope to increase our allocation over time.”

The Mustang will compete in South Africa’s “declining S-segment”, which makes up less than 1% of the market, adds Takura.

“We are not chasing sales or market share.”

However, the Mustang will act as a “brand builder” for Ford, appealing to those who “are lovers of Americana”.

Gauteng is expected to be the biggest Mustang market, followed by KwaZulu-Natal and the Western Cape.