The term "Mustang" has multiple meanings depending on its context.
1) In general usage, a Mustang is a horse breed that was developed in North America and is known for its speed and agility.
2) In automotive industry, Ford Motor Company uses the name 'Mustang' for one of their iconic car models which has been in production since 1964.
3) The term "mustang" can also refer to a wild horse that lives in North America, particularly in the western United States. These horses are known for being independent and self-reliant, much like the Ford Mustang automobile.