The new-generation Ford Mustang is gearing up to make its grand entrance on Australian turf in the second quarter of 2024, but it’s brought a significant price hike with it. Starting at AU$64,990 ($41,208) before factoring in those pesky dealer delivery fees, the S650 Mustang comes with a substantial AU$12,400 ($7,862) higher base price tag compared to its predecessor.
This increase can be partly attributed to the absence of a manual gearbox option in the base Ecoboost model. Even with the automatic transmission, it’s nearly AU$9,500 more expensive than before, and similar price differences are evident across the rest of the range.
Much like it is in other markets, Australian-delivered 2024 Mustangs will be sold in EcoBoost, GT, and Dark Horse guises. The 2.3-liter EcoBoost four-cylinder of the entry-level AU$64,990 model produces 232 kW (311 hp) at 5,500 rpm and 475 Nm (350 lb-ft) of torque at 3,000 rpm while coupled to a 10-speed automatic transmission driving the rear wheels. There is no manual option for the EcoBoost model and it probably won’t sell in significant numbers.
The sweet spot of the new line-up will likely prove to be the new Mustang GT Fastback available from AU$77,002 ($48,825). Its 5.0-liter naturally-aspirated V8 is good for 347 kW (465 hp) at 7,250 rpm and 550 Nm (406 lb-ft) of torque at 4,850 rpm and comes standard with a six-speed manual. GT Fastback models with the available 10-speed auto start at AU$80,902 ($51,297).
Completing the Mustang GT family is the Convertible model sold exclusively with the 10-speed and starting at AU$86,752 ($55,007). All Mustang GT models heading Down Under come standard with an auxiliary oil cooler, 19-inch Carbonised Grey aluminum wheels, and Pirelli P-Zero tires.
Then there is the daddy of the line-up, the Mustang Dark Horse. It is rated at 349 kW (468 hp) and 548 Nm (404 lb-ft) of torque and comes standard with unique MagneRide shocks, stiffer front springs, a host of visual changes, larger wheels, bigger Brembo brakes, and a Torsen limited-slip differential. Prices for the 2024 Mustang Dark Horse start at AU$99,102 ($62,838) with the six-speed manual and AU$103,002 ($65,310) with the 10-speed automatic.
| Model | Powertrain | Manufacturer List Price* (Inc. GST and LCT) |
| EcoBoost Fastback (AT) | 2.3L turbo I4, 10-speed auto, 232kW @ 5500rpm, 475Nm @ 3000rpm | $64,990 |
| GT Fastback (MT) | 5.0L V8, six-speed manual, 347kW @ 7250 RPM, 550Nm @ 4850pm | $77,002 |
| GT Fastback (AT) | 5.0L V8, 10-speed auto, 347kW @ 7250 RPM, 550Nm @ 4850pm | $80,902 |
| GT Convertible (AT) | 5.0L V8, 10-speed auto, 347kW @ 7250 RPM, 550Nm @ 4850pm | $86,752 |
| Dark Horse (MT) | 5.0L V8, six-speed manual, 349kW @ 7250 RPM, 548Nm @ 4850pm | $99,102 |
| Dark Horse (AT) | 5.0L V8, 10-speed auto, 349kW @ 7250 RPM, 548Nm @ 4850pm | $103,002 |
A number of options are offered. These include AU$910 ($577) Prestige Paint, a AU$1,950 ($1,236) Black Pack, the AU$1,500 ($951) EcoBoost Appearance Pack, AU$1,950 ($1,236) GT Appearance Pack, AU$3,575 ($2,266) Dark Horse Appearance Pack, AU$3,835 ($2,431) Recaro Sports Seats, and AU$3,835 ($2,431) MagneRide suspension.
Orders books are open for the 2024 Mustang, although those wanting to secure a Dark Horse had better act fast as just 1,000 units will be sold locally.