2015 Ford Mustang to cost $45,000 in Australia

The new Ford Mustang arrives in local showrooms by the end of this year. The $45,000 starting price is much less than it used to be, but is still almost $20,000 more than what US customers pay.

A new Ford Mustang will cost half what it did a decade ago when it goes on sale later this year – but Australians will still pay up to $20,000 more than US buyers for the exact same car.

Ford Australia has confirmed the starting price for the new Mustang range is $44,990 plus on-road costs.

The price is a little more than half the cost of the 2001 Ford Mustang, which was $85,000 for a coupe and $89,000 for a convertible.

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But there are a couple of caveats. The $44,990 price is for the four-cylinder version of the new Mustang; the V8 that most buyers will want is $54,990 plus on-road costs.

In both cases Australians are paying about $20,000 more than buyers in the US, where the four-cylinder is listed for sale on the Ford website from $25,300 and the V8 from $32,300.

The US prices don't include state taxes and dealer delivery fees but even taking those into account there is still a large gap.

However, Ford fans don't seem to mind, with 700 confirmed paid deposits for the new Mustang with a further 15,000 "expressions of interest" from prospective buyers, says Ford Australia.

2015 Ford Mustang V8

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2015 Ford Mustang V8

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2015 Ford Mustang V8

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The 2015 Ford Mustang V8 will be able to do a burnout at the press of a button.

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2015 Ford Mustang GT with the 5.0-litre V8.

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2015 Ford Mustang V8

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The 2015 Ford Mustang GT's 5.0-litre V8 engine.

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2015 Ford Mustang V8

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2015 Ford Mustang V8

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2015 Ford Mustang V8

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Furthermore, the new Ford Mustang is cheaper than the last iconic two-door muscle car sold locally, the Holden Monaro.

The Holden Commodore-based coupe cost $47,990 for a V6 and $56,990 for a V8 in 2001; both versions of the new Mustang are cheaper than the Monaro, more powerful and yet more fuel efficient.

Ford is banking of having more success with the new model than it did with the locally converted Mustangs sold from 2001 to 2003, when fewer than 400 were sold.

At the time, those Ford Mustangs were rushed on sale to compete with the Holden Monaro; in the end 12,829 Holden coupes were sold from October 2001 to December 2005. More than 31,000 were exported to the US and sold as Pontiacs.

The first shipments of the new Mustang – the first to be made in right-hand-drive on a Ford production line – are due to arrive in local showrooms before December.

Fast facts: Ford Mustang

Coupe

Four-cylinder manual: $44,990
Four-cylinder automatic: $47,490
5.0-litre V8 manual: $54,990
5.0-litre V8 automatic: $57,490

Convertible

Four-cylinder automatic: $53,990
5.0-litre V8 automatic: $63,990

Engines

2.3-litre turbo four-cylinder (233kW/432Nm)
5.0-litre V8 (303kW/525Nm)

Did you know?

When the original Mustang was unveiled at the New York motor show in April 1964, Ford expected to sell 100,000 examples in the first 12 months. In fact, Ford sold more than 1 million Mustangs in the first 18 months. It took Chevrolet 40 years to reach the same milestone with the Corvette. More than 9 million Mustangs have been sold since 1964.

Ford made four-cylinder Mustangs from 1978 to 1993, including a turbocharged 2.3-litre version from 1984 to 1986. The plan was to sell 10,000 turbo four-cylinder Mustangs in the US per year, but Ford ended up cancelling the model after selling only 10,000 over two-and-a-half years.

Ford Australia's fast-car division converted a small number of Mustangs locally between 2001 and 2003. They were rushed in to compete with the modern Holden Monaro, but priced close to $90,000 fewer than 400 were sold.

1964 Ford Mustang

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1966 Ford Mustang

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1967 Ford Mustang

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1968 Ford Mustang as driven by Steve McQueen in Bullitt

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1969 Ford Mustang

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1970 Ford Mustang

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1971 Ford Mustang

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1973 Ford Mustang

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1974 Ford Mustang II

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1974 Ford Mustang II

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1979 Ford Mustang - Fox body

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1980 Ford Mustang - Fox body

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1983 Ford Mustang - Fox body

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1986 Ford Mustang SVO

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1987 Ford Mustang 5.0 - Fox body

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1994 Ford Mustang

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1999 Ford Mustang

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2005 Ford Mustang

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2013 Ford Mustang Shelby GT500

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Have you owned or do you plan to own a Mustang? Tell us what you think in the comments below.