2023 Ford Mustang not only keeps the V8 alive, but will up the ante to BMW M3, Audi RS5 and Mercedes-AMG C63-beating levels: Report

Ford is preparing to unleash the seventh-generation Mustang with an unveiling planned next month at the North America International motor show, but details are already leaking ahead of its debut, including the V8 version’s new outputs.

According to Ford Authority in the US, the same 5.0-litre Coyote petrol V8 will be under the long bonnet of the new Mustang, but instead of the 339kW/556Nm output as seen in the current GT, power figures are set to increase substantially.

Ford has supposedly managed to squeeze almost 500 horsepower from the engine, or 373kW.

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Keep in mind, the most powerful naturally aspirated Mustang to land in Australia so far has been the Mach 1, which made 345kW/556Nm from the Coyote V8.

For reference, the Mustang was also available in R-Spec guise, limited to 500 units, which upped the ante to 522kW/830Nm thanks to a Herrod Performance supercharger fitted locally.

The new 373kW output could be reserved for the top-spec, new-generation version of the Mach 1 or another special model, but if it is for the base tune for the new GT, expect further improvements for higher variants.

If the rumours prove to the be true, Ford’s Mustang will easily outclass much more expensive performance coupes like the Audi RS5 (331kW/600Nm) and BMW M3 (353kW/550Nm), while also coming close to the Mercedes-AMG C63 (375kW/700Nm) and Aston Martin Vantage (375kW/685Nm) – the latter two of which use a 4.0-litre twin-turbo petrol V8.

Aside from the petrol V8, the new-generation Mustang will also come to market with the carryover 2.3-litre EcoBoost four-cylinder engine, which in its current form makes 236kW/448Nm.

Likewise, the six-speed manual and 10-speed automatic options are expected to carryover with the familiar engines, feeding drive exclusively to the rear wheels.

Exterior styling of the new-gen Mustang is also expected to be familiar to those acquainted with the current sixth-generation model, with slight tweaks to the front and rear fascia as Ford makes the most of its front-engine, rear-drive platform.

What is expected to be new for the Mustang however, is the interior, which is said to score a flat-bottom steering wheel and larger multimedia touchscreen, while the all-digital instrument cluster is said to carryover.

Of course, no pricing and spec details are yet to be revealed for Australia, but the next-generation Mustang will continue to be built at the Flat Rock plant in Michigan in factory right-hand drive for the local market.

This should enable Ford to keep price rises to a minimum.

The 2022 Ford Mustang kicks off at $52,590 before on-road costs for the manual 2.3-litre High Performance fastback, and extends to $75,990 for the automatic-only, V8-powered GT convertible.

After Ford’s new Mustang breaks cover next month, it is expected to roll out to the US first in 2023 before arriving to Australia either late next year or early in 2024.