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The new seventh-generation Ford Mustang GT carries over the throaty, thrust-happy Coyote motor from the past two generations. That’s good news for fans of the pony car, but it comes with a catch; the new GT and GT Premium get a considerable price bump over the previous model. Is a new, fully loaded 2024 Ford Mustang GT worth the money? 

How much does the 2024 Mustang GT cost?

The new 2024 Ford Mustang GT starts at $41,495, a $3,150 increase over the previous model year GT. 

Moreover, the posher GT Premium gets a $2,650 price bump for a starting point of around $46,015. Still, the Premium trim isn’t the range-topping GT. Instead, fans who want to shed the top can opt for a Premium Convertible. 

The fully loaded 2024 Ford Mustang GT Premium Convertible starts at $51,515. It’s a significant ask, being the first Premium Convertible in the model’s tenure to cross the $50,000 threshold. 

A fully loaded 2024 Ford Mustang GT Premium Convertible shows off its fascia and top in a harbor.
2024 Ford Mustang GT Premium Convertible | Ford

What is new in the 2024 Mustang GT?

The new Ford Mustang GT gets a new aesthetic lease on life inside and out for the 2024 model year. The S650 Mustang boasts a facelift with squinting tri-bar headlights, a more aggressive maw, and a resculpted rear end with creased taillights. Additionally, Ford overhauled the interior for a modern, tech-focused layout. 

The new Mustang’s fighter jet-inspired interior has an available 13.2-inch center stack that marries up with the car’s 12.4-inch customizable display. Fortunately, fans who mourn the loss of the toggle switches and retro double-bubble dash brow will enjoy the Fox Body options that channel the displays of yesteryear. 

Additionally, enthusiasts will be excited to see the Mustang’s gas-powered engine options survive transitioning from the S550 generation to the new S650. More importantly, the GT keeps the 5.0L Coyote V8 engine from the previous generation. 

A new Ford Mustang GT Premium shows off its Brembo brakes through its wheels.
2024 Ford Mustang | Ford

How much horsepower does the 2024 Mustang GT have?

The new 2024 Ford Mustang GT produces 480 horsepower from its 5.0L Coyote V8 engine. As a result, it is the most powerful Mustang GT in the model’s history. 

However, fans who want more horsepower can opt for the adaptive exhaust option, which adds six ponies for a total of 486 horsepower, per Car and Driver. That’s right, the new GT with performance exhaust outmuscles special editions from the previous generation like the Bullitt and Mach 1

Is the 2024 Ford Mustang GT worth it?

Love or hate the new Mustang’s looks, the upcoming GT is a special car. It’s the most powerful GT ever and might be one of the last V8-powered iterations the Blue Oval will produce before it discontinues the gas-powered pony car in favor of electrified options like the Mach-E.  

However, the new GT isn’t the top-of-the-line Mustang. Ford’s upcoming 2024 Dark Horse produces 500 horsepower from a 5.0L V8. Moreover, the new performance pony car will carry over some of the track-ready sharpness of the outgoing Mach 1. Still, the new Dark Horse will start at nearly $60,000.


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