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. 

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. 

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.