"The nice thing is that they're made out of steel, so when kids outgrow them their parents can save them for the grandkids," said Luzaich.
Luzaich contacted the Ford Licensing Office for permission to market the toy as the original Mustang Pedal Car.
"We were excited when they approached us, it was like finding a piece of history and bringing it back to life," said Bentley. "Like the Mustang itself, the pedal car has always been considered an icon,"
But the Mustang wasn't the only icon Luzaich wanted to license. Having learned the ropes of the pedal car business, he wanted to try something that hadn't been seen before. Working with toy designer, Graham Metcalfe, they created a 1932 Ford Roadster pedal car based on the lines of what had become known as the original "Deuce Coupe."
"The 32 Roadster is the quintessential hot rod," said Metcalfe. "We worked very hard to make sure the grill and other markings were just right. We wanted it to be very retro."
Metcalfe says not only are a growing number of pedal cars being sold to car enthusiasts and their kids, there's also a growing market for hot rod shops. Hot rod designers are modifying them to look like miniature versions of their vehicles.
Leslie Kendall, a curator at the Petersen Auto Museum in Los Angeles, says he is not surprised by the rebirth and growing interest in pedal cars.
"People are just as nostalgic about pedal cars as they are the real thing because they bring back fond memories," he said. "Besides, they're easier to maintain, don't require oil changes, and they're decorative."