To most enthusiasts, the term "classic Cougar" refers to the 1967 through 1973 model years.  There are several reasons for this distinction. One is that the first seven model years of Cougars were based on the Mustang platform and were significantly different in design and purpose from later models.

With the demise of the original Mustang in 1974, the Cougar was redesigned to share a platform with the mid-sized Torino and, in 1983, they became sister cars to Ford's Thuderbird. While first generation Cougars targeted affluent,performance-oriented buyers, post-1973 Cougars were marketed to an entirely different segment of the automotive market.