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The seventh-generation Mustang brings updates to its internal-combustion powertrains and wild styling.

The Mustang helped push Ford into the swinging ‘60s and captured the youth market’s changing demands. By 1964, consumers were looking more at styling and performance, and Ford’s Mustang helped sweep those buyers into Ford dealers en masse. While in a similar generational shake-up, Ford’s staying with the V8-powered Pony and giving fans more time with stick-shifted fun.

This seventh-generation 2024 Mustang’s powertrains will be familiar, starting with a 2.3-liter EcoBoost I4 that is mated exclusively to a ten-speed automatic. That’s right—Ford is dropping the manual transmission from its four-cylinder Mustang, but the 5.0-liter V8 powering GT models will still get the stick. Ford claims the 5.0-liter is the most powerful Coyote to date but has yet to reveal the numbers. Considering the current Coyote generates 450 hp and 410 lb-ft of torque, a figure close to 500 hp shouldn’t be out of the question.

As for changes over the current powertrain, the 5.0-liter V8 enters its fourth generation with a handful of revisions to make more power. The most obvious: dual throttle bodies. The 5.0-liter V8 now breathes through a pair of throttle bodies to supply more air while new camshafts make the most of the revised induction system.

Both powertrains feed the rear axle, which can be augmented with a Torsen limited-slip differential when optioned with the Performance Pack. That pack includes MagneRide dampers, a front strut tower brace, and larger Brembo brakes. An electronic parking brake clamps the rear rotors when it’s time to park. While the parking brake has finally become electrical, Ford worked with drift legend Vaughn Gittin Jr. to develop its electronic drift brake, an option designed to give you the look and feel of a mechanical or hydraulic hand brake.

That optional parking brake controller sits in a wholly new interior that departs from the retro styling seen in the last few Mustangs. The new interior sports a digital, 12.4-inch customizable instrument cluster that’s flanked by a 13.2-inch infotainment touchscreen. These displays can relay all of the essential instrument information needed at the track, or just tell you your speed and remind you that you’re listening to your favorite podcast. Ford didn’t depart entirely from its retro roots and included a Fox Mustang-inspired instrument cluster setting.

Aside from the drift handle and the new screens, Ford’s latest Mustang interior is supposed to look, well, modern. Base cars will see cloth seats with optional Micro Suede inserts. Premium models get an upgraded dash pad, EcoBoost models will see synthetic leather, and GT models will have leather seating. Upgrading from there is as easy as checking a box to spend more money for a compliment of color-coordinated belts, leather-wrapped steering wheels, and more.

The revised steering system promises quicker response and a better feel. Upgraded hardware in the steering column should give drivers a better and less isolated feel for the road surface.

As for the exterior, that’s obviously all new, designed to attract youngsters from Gen Z with its edgier approach while still looking to the past for inspiration. The three-panel tail lights and three-panel LED headlamps are unmistakably Mustang. The car looks wider at the rear than the current S550-generation car. The Mustang’s new nose helps improve aerodynamics with a redesigned splitter and hood vents. Ford notes this will still be available in coupe and convertible shells.

Pricing is yet to be determined and will be noted closer to launch, but it's almost safe to bet this pony’s price is going up. The current Mustang will set you back at least $28,865, which might make it the last Pony under $30,000. The new '24 Mustang is going on sale next summer.

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