2024 Ford Mustang: The First—And Last—Pony Car

There Can Be Only One

Once upon a time, or about 54 years ago, automotive enthusiasts could choose from seven American high-performance two-door coupes (most of which were also offered as convertibles). They all featured powerful V8 engines and they each found at least 40,000 buyers per year. Nearly all of those cars (and car companies...) are gone now, with only Ford’s Mustang left to carry the “pony car” banner for 2024 and beyond.

Those dwindling model numbers reflect a dwindling customer base. The Mustang can still pull 40,000-plus buyers a year, as can Dodge’s Challenger. But the Chevrolet Camaro struggled to hit 25,000 sales in 2022, and when one considers the rental/fleet customers for each of these cars it’s clear their buyer pool isn’t what it used to be. That, along with increasingly stringent emissions standards that favor EVs, is why Chevy and Dodge have cancelled their performance coupes even as Ford reinvested in the Mustang with a substantial set of upgrades for 2024.

2024 Ford Mustang Goes High Tech

We covered the changes to the 2024 Ford Mustang when it debuted last year. Now we’ve driven it and can speak to how those changes manifest from behind the wheel. The biggest upgrades come in the form of an advanced 12.4-inch digital gauge cluster and optional 13.2-inch central touchscreen. Both screens feature the latest in computer chipsets, making everything from gauge clarity to animations a visual treat when interacting with them. Ford also removed the manual climate controls and incorporated them into the toushcreen, but thankfully kept a dedicated volume knob.

The technology upgrades are more than visual on the 2024 Mustang, including a new “drift brake” setting added to the car’s capabilities on Mustangs equipped with the Performance Package (yes, even the 2.3-liter models). This supplements existing modes like “sport” and “track”, though the slick animations when shifting between modes are right out of a Forza driving game. Children of the ‘80s will also appreciate the “Fox body” gauge cluster that can be called up in all its blocky-font glory. Turn up Sirius XM’s Channel 8 on the optional 12-speaker Bang and Olufsen audio system and you’ll be just a narrow tie away from 1987.

EcoBoost 2.3-liter Engine a Powerful Option

If you’d rather listen to the Mustang’s engine than Duran Duran, Ford offers a $1,225 “Active Valve Performance Exhaust” system for both the 2.3-liter turbocharged four-cylinder EcoBoost engine and 5.0-liter V8 found in GT and Dark Horse models. Our test car had the EcoBoost with this option. The engine makes 315 horsepower and 350 pound-feet of torque, and feels more than capable of motivating the 3,800-pound convertible, though the more aggressive exhaust settings (there are four) create “engine” noises that clearly aren’t coming from the engine...

Creative exhaust notes aside, the new Mustang feels more responsive and confident than ever, even with the base engine. Our test car also had the optional MagneRide active suspension system ($1,750), and between that technology and the quicker steering ratio on all 2024 models the car delivered confident, grin-inducing dynamics on our favorite twisty roads. MagneRide provides both comfortable ride quality and controlled body roll, depending on driving mode, making it a must-have option for less than $1,800.

Of course the 2.3-liter engine is not as quick or engaging as the 5.0-liter V8 with a six-speed manual transmission (the four-cylinder only comes with Ford’s 10-speed auto), but for real-world use cases, where traffic and fuel costs are very real challenges, a 315-horsepower coupe with 21 city, 29 highway, and 24 combined mpg feels like the responsible choice unless you’re hitting the track regularly where you can genuinely exercise the V8 GT’s 480 horsepower (or 500 hp in the Dark Horse).

Performance Over Practicality

Speaking of responsible, the 2024 Mustang remains true to its sporty coupe origins, which means limited rear seat space and cargo capacity. Normal-sized adults will put the front seats in a location that precludes normal-sized adults sitting behind them. And while the coupe body style offers a reasonable 13.3 cubic feet of trunk space, our convertible could only muster 10.3. It’s probably a good thing only two people can fit comfortably in this car, especially for weekend getaways that require luggage.

Priced Like It’s Your Only Option...Because It Is

The other big news for the 2024 Mustang is pricing...which has gotten pretty big. Last year Ford’s pony car started at $29,165 for the coupe or $34,665 for the convertible. The new car now starts at $34,110 for the coupe and $43,540 for the convertible (all prices include destination charges). Our test car, with the aforementioned options and red contrasting seat belts, rang in at $53,485 — without a V8 engine.

Blame inflation, the cost of the Mustang’s newly-added computer chips, or just the reality of Ford having a monopoly on American sport coupes. Whatever the reason(s) behind it, the 2024 Ford Mustang’s price means you really have to appreciate it as the world’s last pony car.