Ford Mustang celebrated two major milestones this week: the 49th anniversary of the first ever Mustang model and the production of the 1 millionth Mustang vehicle

Both milestones were celebrated at the company's Flat Rock Assembly Plant in Detroit, Michagn according to a company press release.

The Flat Rock Assembly Plant has been the main production plant for Mustang models for the last nine years, and produces approximately 305 Mustang models everyday according to UAW vice president Jimmy Settles.

"I remember when Ford Motor Company wanted to end the Mustang," said Settles at the ceremony. "I also remember when it was $99 down and $99 a month."

Click here to see photos from the event.

The price mentioned by Settles helped Mustang grow into the company it is today when it first launched the first Mustang model back in April 1964. The model was shown off for the first time at the New York International Auto Show to a stunned crowd who had no idea they were witnessing history in the making.

The Flat Rock production plant added 1,400 new employees recently as Ford has added a second shift in order to start production for its new Fusion model which will be going on sale this fall according to Settles.

Employees were asked to go back to their work once everyone got a chance to check out the 1 millionth vehicle according to AOL Autos.

"Mustang is one of the most beloved nameplates in the industry, with fans around the world and throughout Ford Motor Company," said Rah Nair, group vice president of global product development at the ceremony.

Sports cars have been tougher to sell the past decade or so due to a struggling economy. Customers are more likely to buy used cars or more fuel-efficient vehicles rather than cars they can go fast or have fun with, which means companies have to do a lot more to sell sports vehicles.

Ford has sold approximately 17,320 Mustang models through Mar. 2013, which represents a 14 percent decrease when compared to the same time period last year according to a company press release.

Related Articles:

Losing $25M A Day: U.S. Postal Service Clams Business Model Is Broken, Worried About 'Unsustainable Path' (VIDEO)

10 Best Green Cars Of 2013 Named By KBB.com (SLIDESHOW)

Volvo Introduces First S60 Polestar Production Vehicle (SLIDESHOW)

Poison Bread in 'Gift' Sandwiches Puts 25 German Workers In The Hospital (VIDEO)

Family Awarded $90M For Daughter's Death In Maryland Car Accident

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?