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Fast is a term that can't be measured adequately in terms of numbers. It's a comparative thing. For example, a fast economy car is much slower than a fast exotic because a fast economy car is only faster than expectations of an economy car. A slow exotic is still faster than other cars by comparison.
Defining how fast something is requires you to measure what is average. You can only call something fast if it is faster than the norm, so you need to establish a norm. If you take the most commonly sold cars or the most common performance numbers for used cars that are on the streets, you can come up with the performance of an average car. For something to be fast, it has to beat the average car by a significant amount. This creates another problem because you have to decide what is significant. If you can define significant as a percentage of improvement and average, then you can come up with a universal definition of what is fast. The categorical way to measure whether a car is fast is to stick with its class. For example, the Mustang would be considered slow for a current pony car even though it is much faster than previous generations out of the factory. Once again, you need to define what is average for that group and what is a significant increase in performance. This is much easier because there are less cars to compare. In the Mustang's case, you only have to compare 3 pony cars and a couple of outsiders that would be likely competitors, like the Genesis and 370Z.
You could also use the Camaro method of defining what is slow. Since the Camaro, by definition, is fast, all cars that do not hang with the Camaro are slow.
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