As Hemikiller posted, Ford did not build these cars in a consecutive serial number sequence. For years, most people I talked to thought the last six of the Vin was the absolute order in which Ford built a car. A Vin was assigned not long after the dealer submitted the order to Ford. That way, the dealer code, Vin, and order number help identify the vehicle, and steps are taken to source whatever is needed from Ford vendors and Ford sub-assembly plants. Some vehicles would "Bucked" (The start of the assembly process) the next day, others days or weeks later. Mustangs, Cougars, Mavericks, and Comets were built at Dearborn during this time frame, so there was very little chance of any actual numeric assembly sequence. Although the Comets and Cougars didn't affect the Ford serial numbers, they did help spread out the production date of all vehicles there. Retail orders had priority over dealer stock orders, and supplier constraints helped juggle the numbers even more. Special order paint and non-RPO items would result in the vehicle being removed from the assembly line. Some DSO orders would require a sublet to an outside vendor or extra time at the paint or body shop.
I hope this helps clarify why the serial seems to exceed the number of '73 Mustangs built.