A brand new generation Ford Mustang is currently under development but the outgoing model is not ready to retire just yet. In fact, the model with internal designation S550 was the best-selling sports car in the entire world last year, according to an analysis by the automaker based on registration data from S&P Global Mobility.

Ford managed to move just under 70,000 Mustangs globally in 2021, although that figure does not include the all-electric Mach-E crossover. Overall, the company says the United States accounted for 76 percent of all Mustang sales in 2021. The markets with the biggest increase in demand for the Mustang were New Zealand, up 54.3 percent, Brazil, up 37.3 percent, and South Korea, up 16.6 percent.

Gallery: 2022 Ford Mustang California Special

“When enthusiasts around the world get into a Mustang, they unlock that feeling of freedom and experience the open road,” Kumar Galhotra, president at Ford Blue, commented. “That feeling, along with iconic design, awesome powertrains, and a passionate global community all contribute to making Mustang a sales leader for the seventh year in a row.”

The Mustang has been the best-selling sports car in the world for seven years in a row now, though 2022 could be more challenging for the pony car. During the first three months of the year, sales of the Mustang in the United States fell 19 percent, but Ford’s product took the crown for the best-selling muscle car in the country with 13,986 sales. The Dodge Challenger came second with 11,124 deliveries, followed by the Chevrolet Camaro with 6,710 sales.

Meanwhile, work on the next-gen combustion-powered Mustang continues and just yesterday a leaked image previewed the vehicle’s front end design. The 2024 Mustang is still in the relatively early stages of development, though it has already been confirmed that it will get a V8 engine. However, it could be offered only with an automatic gearbox, according to a recent report.