What We Know So Far

Overview

Ford launches the seventh chapter of its storied Mustang sports car with reworked-but-familiar styling, revised chassis hardware, an all-new interior, and two improved powertrains. While the new pony is saddled-up for the future with a bevy of upgrades, the long-term fate of its closest competitors, the Chevy Camaro and Dodge Challenger, isn’t as rosy. The new-gen car will continue to be powered by a 5.0-liter V-8, this time with output cranked to 480 horsepower. A 315-hp turbocharged 2.3-liter EcoBoost is also an improvement, but only slightly. Both a six-speed manual and a 10-speed automatic will be available depending upon engine choice. The Mustang will continue to be offered in both hardtop coupe and soft top convertible bodystyles. The Mustang’s rethought cockpit includes an available 13.2-inch display that’s part of a large curved screen that extends over the center stack area. The system also replaces traditional knobs for climate and radio control with touchscreen “buttons.” Sales of the new pony car should begin sometime during summer, 2023.

What’s New for 2024?

The Mustang will enter its seventh generation with sales beginning in Summer, 2023. The new design brings the Mustang some desperately needed updates. Amid its many style and powertrain changes is a fresh roster of offerings for those with a true need for speed. Both Mustang GT and EcoBoost models will offer an optional Performance Pack equipment upgrade. The Performance Pack adds a front strut-tower brace, Torsen limited-slip differential, wider wheels and tires, larger Brembo brakes, and a MagneRide active-dampening suspension. Optional Recaro buckets and an active exhaust are also available for the performance-minded. Additionally, Ford offers a Performance Electronic Parking Brake that looks like a traditional lever-action handbrake and is said to make the Mustang easier to drift. An all-new Mustang Dark Horse track-ready model has also been added to the ranks, toting a more sinister 500-hp Coyote V-8 engine and a direct line to the Ford Performance parts bin with leaner and meaner equipment upgrades.

Pricing and Which One to Buy

The Mustang continues to offer a turbocharged four-cylinder EcoBoost at the base level and a V-8 in the GT model. We estimate the former will start around $30,000 and the latter at $40,000. While we won’t know the specifics of each trim until the 2024 Mustang gets closer to its summer, 2023 sale date, it would be hard not to recommend the top-dog GT. A Mustang with a V-8 engine just feels right, bringing more performance and an ear-pleasing growl. Plus, it’s the only powertrain that offers a six-speed manual transmission.

Engine, Transmission, and Performance

The new Mustang comes standard with an upgraded turbocharged 315-hp 2.3-liter four-cylinder EcoBoost engine with 350 pound-feet of torque. That’s 5 horsepower more than the previous Mustang, but still trails the last-gen EcoBoost Performance’s 330-hp. While every EcoBoost Mustang gets a 10-speed automatic transmission, the Mustang GT, which continues to offer a 5.0-liter V-8, has a six-speed manual standard. The last generation’s Coyote V-8 produced 450 horsepower with 420 pound-feet of torque, but the new unit is rated for 480 horsepower and 415 pound-feet of torque. Ford says an optional performance exhaust increases output to 486 horsepower and 481 pound-feet. The all-new Mustang Dark Horse model is a track-focused step up based on the GT that uses a 500-hp 5.0-liter V-8 with either a 10-speed automatic transmission or a six-speed manual. Ford said the heart of this engine contains connecting rods from the 760-hp Mustang Shelby GT500 plus a revised intake system. Our test team hasn’t strapped their instruments to the new Pony yet, but we’ll update this space as soon as they have.

Fuel Economy and Real-World MPG

The EPA hasn’t released official fuel economy estimates for the 2024 Mustang EcoBoost or GT, but for reference, we should mention the last Mustang earned an EPA-estimated 21 mpg city and 32 mpg highway with the turbo four-cylinder and 10-speed automatic. For the last-gen V-8, the added horsepower sacrificed efficiency for an estimated 15 mpg city and 24 mpg highway. We’ll update this space with info for the updated 2024 Mustang when it becomes available. For more information about the Mustang’s fuel economy, visit the EPA’s website.

Interior, Comfort, and Cargo

From the driver’s seat of the 2024 Mustang, every detail has been chiseled in place with what Ford is calling a “fighter-jet inspired,” design. While we wait to find out if the Mustang’s performance will break the sound barrier, its standard 12.4-inch instrument cluster is a massive leap ahead from the previous car’s. The configurable display can be customized to fit the needs of most red, white, and blue patriots, with selectable colors, gauges, and even a “calm” screen that reveals only the most necessary details. Ambient lighting and a driver’s display adapts to whichever drive mode you’ve selected. Base Mustangs come with cloth seats and available micro-suede vinyl inserts, while the Premium level adds stitched bits and pieces from door trim to dashboard. The Mustang GT gets leather inserts. Ford has also introduced a Remote Rev function that allows the car’s engine to blast up the RPMs with a simple click from the key fob while you admire the sounds from outside the car.

Infotainment and Connectivity

A major area of improvement for the new Mustang is its interior gadgetry. An available 13.2-inch infotainment screen using Ford’s Sync 4 software flows from the gauge cluster toward the center of the car behind a curved glass panel. Apple CarPlay and Android Auto come standard on this system, and an optional wireless smartphone charger helps drivers reduce the clutter of charging cables. Amazon Alexa and Ford Streaming allow voice commands to replace knob-turning or button presses, and every Mustang comes with Ford Power-Up software capability which allows for over-the-air updates for later software and vehicle function improvements.

Safety and Driver-Assistance Features

The Mustang is also available with more driver-assistance technology than any rival pony car, so you can go faster and feel safer. Every Mustang comes with Ford Co-Pilot360. For more information about the Mustang’s crash-test results, visit the National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (IIHS) websites. Key safety features include:

• Standard adaptive cruise control
• Standard lane-departure warning and lane-keeping assist
• Optional active pothole mitigation (included with Performance Pack)

As more information becomes available, we’ll update this story with more details about:

• Warranty and Maintenance Coverage