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Nothing really. Typically new model year vehicles in the US are introduced in September of the year before. The 1964 Mustang was introduced on April 17 of 1964 at the World's Fair. Other 1964 model year vehicles were introduced in September of 1963. All 1964 1/2 Mustangs were given 1965 U.S. federal VIN numbers at the time of production, with limited exception to the earliest of promotional vehicles.

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Q: What is the difference between a 1964.5 mustang and a 1964 mustang?
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