Over eight generations, a car with the name Mercury Cougar was produced in the years 1967 to 2002. As was common with Ford’s Mercury division, the Cougar made use of the platform of existing Ford models. In its first generation it was the Ford Mustang, then the Ford Thunderbird, and lastly the Contour/Mondeo.

Not only did the 1967 Mercury Cougar share parts with the Ford Mustang, but the name Cougar was one of the leading contenders in the campaign to find a name for the Mustang. Given that it shared some DNA with the Mustang, the first generation Cougar was a pony car. Available only as a 2-door hardtop coupe initially, with a 2-door convertible arriving as an option between 1969 and 1974.

Buyers had the choice of the base model Cougar, or the XR-7 Cougar. Engine options were the 289 cubic inch (4.7 L) Windsor V8, 390 cubic inch (6.4 L) FE V8, 302 cu in (4.9 L) Windsor V8, 351 cubic inch (5.8 L) Windsor V8, 428 cubic inch (7.0 L) FE V8, and 427 cubic inch (7.0 L) FE V8. If purchased with the GT option, and its 390 cubic inch (6.4 L) FE-series big block, the Cougar moved from pony car to muscle car.

In 1974 the Cougar switched to the platform used on the Mercury Montego / Ford Torino, adding 114 inches to the wheelbase, and marketed as a personal luxury car. A sedan and station wagon was added to the Cougar line-up in 1977, and, along with some re-styling, the car was now positioned as an intermediate personal-luxury car. Engine choices in this period were the 302 cubic inch (4.9 L) V8, 351 cubic inch (5.8 L) V8, and the 400 cubic inch (6.6 L) V8.

By 1980 the Mercury Cougar was in its 5th generation, and now shared the platform of the Ford Zephyr, and had a shift down to a 108-inch wheelbase. For its 6th generation, the Cougar moved to the platform used by the Ford Thunderbird, and was one of the first GM cars to sport the company’s new "aero-look" design.

In 1990 the Cougar became a sport compact, based on the Ford Contour. The body design was part of Ford’s "New Edge" look, and in the range for the first time was a hatchback. Engine choices were the 2.0 L Zetec I4 and the 2.5 L Duratec V6.

With Ford’s announcement of a restructure in 2002, the Mercury Cougar was dropped from the range.

Though it shares DNA with the Mustang, the Mercury Cougar doesn’t attract the high value of its more illustrious relative. That said, the market for early Cougars is competitive, and growing in price, particularly for the late 60s Cougar convertibles, Boss 302 Eliminators, 428CJ Cougar, and restored 427 GTEs.