2023 Ford Mustang Review, Pricing, and Specs (2024)

Overview

For more than 55 years, the Ford Mustang has continued to evolve into a more sophisticated steed. This iteration comes standard with a 310-hp turbocharged inline-four EcoBoost engine with a six-speed manual transmission. And while the pony car gets as wild as the 760-hp Shelby GT500, reviewed separately, the more conventional choice is the Mustang GT with the 450-hp V-8 engine. Both the four-cylinder and V-8 can be mated to a manual transmission or a 10-speed automatic. Mustangs are offered either as a hard-shell coupe or rag-top convertible, but every Mustang powers the rear wheels. Although a High Performance 330-hp EcoBoost is an available upgrade for the four-cylinder, the Mustang is best served with the growling V-8. While its closest muscular rival, the Chevy Camaro, has a more ergonomic interior, the Mustang's larger back seat and better outward visibility make it easier to live with.

What's New for 2023?

In anticipation of the next-generation pony car, the 2023 Ford Mustang goes largely unchanged. The 2023 Mustang bookends the fifth generation S550 chassis and an all-new S650 Mustang will go on sale sometime in the summer of 2023 with new looks, more power, and a far more technology-savvy interior.

Pricing and Which One to Buy

The Mustang is best enjoyed with its sonorous, 450-hp 5.0-liter V-8, which comes only in the GT or the Mach 1. The latter has an additional 20 horsepower (470 total) versus the regular GT model, and features performance equipment pulled from the Shelby GT500 that makes it more exciting to drive. Unfortunately, its starting price is close to $58,000, so we'd recommend the regular GT coupe. Sticking with the standard manual transmission, we'd opt for the GT Performance package that adds upgraded Brembo front brakes, a limited-slip differential, stickier summer tires, unique chassis tuning, and more.

Engine, Transmission, and Performance

Don't be fooled by its cylinder count—the standard 310-hp turbocharged EcoBoost four-cylinder has enough punch to embarrass V-8 Mustangs of old. Likewise, the optional 330-hp High-Performance package adds a more melodic and responsive EcoBoost engine derived from the defunct Ford Focus RS. The optional EcoBoost Handling package also delivers racetrack readiness to the four-cylinder coupe. The GT models are motivated by a 450-hp V-8 with an optional active exhaust that trumpets a thunderous roar. Both of these compelling engines pair with a standard six-speed manual transmission or a 10-speed automatic that makes the Mustang quicker than before. With the track-focused Performance Pack Level 2 (PPL2) and the brilliant Bullitt model both put out to pasture, the resurrected Mach 1 model has the best performance bona fides. With an enhanced 470-hp V-8 and chassis components shared with Shelby Mustangs, it'll both terrorize racetracks and make grocery runs—but the Mach 1 we drove had a tiring tendency to tramline. Still, even with the less powerful engines, the Mustang's chassis delivers a comfortable and controlled driving experience. The electrically assisted steering is appropriately light in Comfort mode and nicely weighted in the other two. The Mustang's brake pedal has a firm feel that we felt to be touchy in stop-and-go traffic, but it's easier to apply smoothly at higher speeds.

Fuel Economy and Real-World MPG

The most efficient Mustang is the one powered by the turbocharged four-cylinder with the 10-speed automatic, which earned EPA ratings of 22 mpg city and 32 mpg highway. The V-8–powered Mustang earned ratings of 15 mpg city and 24 mpg highway. In our testing, the four-banger with the manual transmission returned 24 mpg—7 fewer than its EPA rating. The V-8 with the automatic saw 24 mpg in our hands, matching its EPA number. For more information about the Mustang's fuel economy, visit the EPA's website.

Interior, Comfort, and Cargo

The Mustang interior is an evolutionary design that harks back to Mustangs of old while managing to be fully functional and livable. While it's available with premium features such as heated and cooled front seats, its mediocre plastics and cramped Headless Horseman-only back seats are demerits. Stellar performance combined with impressive cargo space makes the Mustang a high-performance daily driver. In our testing, it held the second-most carry-on suitcases and has the most interior storage space among rivals. The back seat stows by pulling a strap and folds easily by hand. Should you need to transport up to 12 carry-on bags, the Mustang can do so. The Ford wins with the biggest center-console bin among competitors we tested.

Infotainment and Connectivity

Ford's optional Sync 3 infotainment system has a clean design and a simple interface. While it's not as responsive or robust as some rivals, it does come with Apple CarPlay, Android Auto, and a kickin' stereo. The Mustang is available with a Wi-Fi hotspot. Ford Sync Connect, which allows users to control and monitor their vehicle through a smartphone app, is included as standard.

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. That's how driver assists work, right? 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:

• Available forward-collision warning and automated emergency braking
• Available lane-departure warning and lane-keeping assist
• Available blind-spot monitoring and rear cross-traffic alert

Warranty and Maintenance Coverage

The Mustang has a solid but average warranty. However, unlike Chevy, Ford doesn't provide a complimentary scheduled maintenance visit.

• Limited warranty covers three years or 36,000 miles
• Powertrain warranty covers five years or 60,000 miles
• No complimentary scheduled maintenance

More Features and Specs