What's New
The 2023 Ford Mustang is essentially a carryover model but loses the GT 500, the base V8 convertible trim, and blue and orange exterior colors. The next generation Mustang begins as a 2024 model and is expected to be available later this year.
Choosing Your Ford Mustang
The Mustang is available in six trim levels, EcoBoost, EcoBoost Premium, GT, GT Premium, Mach 1, and Mach 1 Premium, and base prices range from $30,740 to $60,060. The EcoBoost and GT are available as convertibles for an extra $5,500. The insanely powerful GT 500 bows out for this generation’s final year.
Engine Choices
The two powertrain options remain unchanged. There is a 2.3-liter turbocharged four-cylinder that is standard and it generates 310 horsepower and 350 pound-feet of torque which is routed through a six-speed manual transmission to the rear wheels. A 10-speed automatic is available for $1,595. On the naughty end, a limited-slip rear differential, electric line lock, and launch control (on the six-speed) are included.
The 5.0-liter atmospherically aspirated V8 puts out 450 horsepower and 420 pound-feet of torque in the GT model and 470 horsepower and 410 pound-feet of torque in the Mach 1 which gains a strengthened six-speed manual. A 10-speed automatic is also offered.
The four-cylinder Mustang earns EPA estimates of 24 miles per gallon combined while the V8 returns 18 MPG with the manual and 19 MPG with the automatic. Mach 1’s additional track-ready hardware lowers the V8’s efficiency rating by one MPG point and is hit with a gas-guzzler tax when equipped with the manual.
Passenger and Cargo Capacity
The Mustang stretches 189 inches in length and sits 81.9 inches wide which makes it over a foot longer than a Nissan Z and about five inches wider than a Porsche 718.
The Mustang is relatively practical with 13.5 cubic feet of truck space (or 11.4 cubic feet with the convertible) and while the back seat is tiny, at least the Mustang is capable of four passengers.
Safety Features
The Mustang is decently equipped in terms of active safety technology. All trims include automatic emergency braking, blind-spot detection with cross-traffic alert, lane keep assist, and automatic high beams while the EcoBoost Premium and GT trims gain standard rear parking sensors. Adaptive cruise control becomes available through the Safe and Smart Package for $725 although it may require additional package selections.
Connectivity
A 4.2-inch touchscreen is standard on the Mustang as is a 4G Wi-Fi hotspot, six speakers, and two USB charging ports, while the two Premium trims include an eight-inch touchscreen that incorporates Apple CarPlay, Android Auto, and SiriusXM and three additional speakers. The Mach 1 can be fitted with a 12-speaker Bang & Olufsen sound system through its optional Elite Package for $1,550.
2023 Ford Mustang EcoBoost - MSRP From $30,740
The base Mustang is equipped with 17-inch silver-painted alloy wheels, an independent rear suspension, LED headlights with signature lighting and triple LED brake light bars with sequential turn signals, dual exhaust, body-color mirrors, hood vents, and a remote engine start system. Proximity entry, cloth seats with a four-way manually adjustable driver’s seat, a leather-wrapped steering wheel, and split-folding rear seats are also included.
The Ecoboost High (101A) Equipment Group is $2,600 and includes dual-zone automatic climate control, a six-way power-adjustable driver’s seat, 18-inch wheels, rear parking sensors, and selectable drive modes.
The 2.3L High Performance Package is another stand-alone package that adds increased performance engine tune, a larger radiator, a lower-geared rear end, wider 19-inch wheels with painted pockets, larger brakes, a stiffer front suspension, a strut tower brace, a front splitter, an active exhaust, a larger rear spoiler, aluminum dash trim with an engine-spun finish, additional gauges for oil pressure and boost, and paddle shifters on the automatics.
With both large and expensive packages selected, the EcoBoost Handling Package gains unique and wider wheels, summer-only tires, adaptive dampers, an upgraded limited-slip rear differential, and upgraded Brembo front brakes with black-painted calipers clamping on larger rotors.
A $1,195 Black Appearance Package is available and adds black-painted 19-inch wheels, rear spoiler, grille, mirror caps, roof panel, and badges.
2023 Ford Mustang EcoBoost Premium - MSRP From $35,765
The upgraded trim level 18-inch wheels with black painted pockets, a body-color rear spoiler, heated mirrors with a pony puddle light image, a 4.2-inch driver information display, six-way power driver and four-way power passenger’s synthetic leather seats with heating and ventilation, aluminum pedals, updated door trim, dual-zone air-conditioning, and ambient lighting.
The EcoBoost Premium High Package is $2,700 and it includes additional safety hardware, mirrors with integrated turn signals, leather seats with memory, a heated steering wheel, a 12-inch digital gauge cluster, premium interior trim with stitching accents throughout, and an aluminum dash panel.
The High Performance and Handling Packages are also available and there are several styling trims offered for $1,995 such as the Coastal trim which features 19-inch wheels, a unique body-color grille, side scoops, and a unique vinyl stripe, the Stealth Package which wears black 19-inch wheels, grille, mirror caps, and badges, a more prominent rear wing, and clear LED tail lights, and the Ice White Appearance returns with unique white exterior and interior trim.
2023 Ford Mustang GT – MSRP From $41,315
The GT model features standard dual 3.5-inch inch exhaust with quad exhaust outlets, LED fog lights, a rear spoiler, a high-gloss front grille, a unique rear lower facia, 18-inch wheels, a leather-wrapped steering wheel, a six-way power driver’s seat, and an aluminum trim instrument panel.
The GT Performance Package can be added for $6,700 and includes many of the updates noted in the EcoBoost Performance Package while adaptive dampers are offered for $1,695 when the High trim package is selected for $2,500 which adds upgraded audio, ambient lighting, and dual-zone climate control.
Active exhaust is offered for $1,225.
2023 Ford Mustang GT Premium – MSRP From $46,335
The up-level trim gains heated and cooled leather-trimmed front seats, premium door trim, aluminum pedals, and dual-zone climate control.
The 401A Package is offered for $2,600 and it adds a memory driver’s positioning, a heated steering wheel, a 12-inch gauge cluster, and accent stitching along the center console, shifter boot, wrapped knee bolsters, seats (leather), floor mats, and door trim.
The California Special is another $1,995 styling package and wears 19-inch gray-painted wheels, special badging, a front splitter, a rear wing, and a unique grille, while inside there are suede door and seat inserts with red contrast stitching and CS logo, and a unique dash trim.
The GT Performance Package is also offered.
2023 Ford Mustang Mach 1 – MSRP From $58,540
Mach 1 is more track-focused than the other Mustang trims. It is fitted with upgraded performance hardware that includes an active exhaust with larger diameter pipes, Brembo front brakes with larger rotors, upgraded cooling, adaptive dampers, revised spoilers for increased downforce, and additional chassis bracing. The Mach 1 also packs software upgrades such as a revised engine calibration and track-specific chassis programs and unique styling touches with 19-inch low-gloss black wheels, hood and side accent stripes, unique upper and lower grilles openings, and special badging inside and out. Recaro sport seats are available for $1,650.
2023 Ford Mustang Mach 1 Premium – MSRP From $60,060
The Premium trim of the Mach 1 gains aluminum pedals, heated and ventilated leather seats, a heated steering wheel, and upgraded interior trim with contrast stitching and opens up the availability of additional option packages such as the Elite Package ($1,550) which adds the upgraded sound system and the Mach 1 Appearance Package ($1,250) that is only offered in Fighter Jet Gray and features orange interior and exterior accents and brake calipers.
Compare Mustang Trims Side-By-Side
The GT trim packs a legendary V8 while the Performance Package should be a serious consideration for those looking to take it to the track.