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The all-new 2024 Ford Mustang, the seventh generation of the pony car, debuted at last year’s Detroit auto show. It boasts bold new bodywork and interior, revised chassis hardware, more advanced technology, and the most athletic 5.0-liter V8 engine. It is poised to be the last gas-powered muscle car, with an electric model set to replace the Dodge Challenger after the 2023 model year, and the Camaro is likely to follow suit.

To celebrate the 2024 Mustang, projected to go on sale this summer, Ford auctioned the first production 2024 Ford Mustang VIN 001 off on January 28 for a hefty price tag.

What we know about the 2024 Ford Mustang

A blue Mustang Dark Horse parked indoors.
2024 Ford Mustang | Ford Media Center

The 2024 Ford Mustang has new bodywork, save for a few areas. It features the familiar short decklid/long hood proportions, but the grille is more squared, the side skirts are lower, and the rear fenders resemble the Camaro’s. It is offered in the soft top convertible and hardtop coupe body styles with eleven color options.

The interior of the Mustang, which is about the same size as its predecessor’s, has what Ford calls a “fighter-jet-inspired” design. A standard 12.4-inch instrument cluster display sits behind the steering wheel next to a 13.2-inch infotainment screen. As one of the most technologically advanced Mustangs, it has several driver assistance and safety technologies. Base mustangs have cloth seats, while the GT has leather inserts.

The standard 2024 Mustang uses a 2.3-liter four-cylinder with 315 hp and 350 lb-ft of torque. A 6-speed manual and 10-speed automatic transmissions are available. You can rev your engine from outside using your key fob.

The Mustang GT is perfect if you want your engines to provide more grunt. It comes with a powerful 5.0-liter V8 with a 6-speed manual transmission as standard, with an output of 480 hp and 415 lb-ft of torque. The all-new Mustang Dark Horse is also an excellent choice, featuring its 5.0-liter V8 with either a 10-speed automatic transmission or a six-speed manual. It has an output of 500 hp.

The 2024 Ford Mustang VIN 001 auction

Ford has a long tradition of selling the first examples of desirable cars at charity auctions, such as the Mustang Shelby GT500, which sold for $1.1 million, and the Mustang Mach 1, which went for $500,000. They were all sold via Barret-Jackson auctions.

On January 28, 2023, the automaker celebrated the all-new 2024 Ford Mustang by auctioning the VIN 001 during the Barrett-Jackson event in Scottsdale, Arizona.

As production is yet to begin, a representative of the actual vehicle was rolled across the auction block. All we know about it is it’s a 5.0-liter V8-powered GT rated at 486 hp and 418 lb-ft of torque. According to Road and Track, it sold for a whopping $565,000, well into supercar territory.

Ford will donate all the proceeds from the sale to a charity called Juveniles Diabetes Research Foundation (JDRF), which funds research for diabetes type 1. Over the last three decades, Ford has contributed more than $60 million to the JDRF.

The lucky winner of the auction gets to configure the car fully. They will choose from 11 exterior colors, interior packages, several alloy wheel designs, three brake calipers, and two transmission types.

An exciting chapter in Mustang’s history


The New Ford Mustang Is More Expensive Than Ever

If the 2024 Ford Mustang will be the last gas-powered muscle car, it marks an exciting chapter in Mustang’s history, which started and fueled the performance revolution in 1964.

As part of the automaker’s tradition, Ford may have auctioned the first production 2024 Ford Mustang VIN 001 for an impressive $565,000. However, the rest of us will have to wait till later this year for production to start.