The iconic Ford Mustang is officially in its seventh generation. The American icon dates back to 1964 and until now, nearly 10.0 million examples, from all generations, have been sold in the U.S. alone. With the 2024 Ford Mustang finally out, many expected hybridization to become a part of the Pony car’s legacy, but it seems, this will not be the case for at least another generation. More importantly, we finally get a clear look at the 2024 Ford Mustang and despite some of the iconic design cues no longer being present, there is a lot to like about it.

Ford advertises the 2024 Ford Mustang as “all-new”, but it actually has a revised version of the S550 chassis and suspension. The leaked information about the S650 Mustang going hybrid turned out to be false, which means that this generation will still rely on internal combustion alone for propulsion. Moreover, the 2.3-liter turbo-four, EcoBoost, and the 5.0-liter Coyote V-8 are still here, and Ford promises that this will be the brand’s most powerful Mustang GT model yet. The fourth-generation Coyote V-8 is expected to have over 480 horsepower (358 kilowatts) thanks to a redesigned air intake box, dual-throttle bodies, exhaust camshafts with longer duration, and a new exhaust manifold.

Power still goes to the rear wheels only through either a six-speed manual or a ten-speed automatic. One disappointing aspect comes in the form of the 3.31 rear gears for the six-speed manual, which once again, means unnecessarily long gears for the Mustang GT. The 10-speed automatic will, likely retain the same 3.15 set from before. At this point, there’s no saying whether a 3.55 setup will be offered or not. One neat upgrade, however, is the new, quicker-ratio steering rack.

The Performance Package is, once again, available on both the 2.3-liter EcoBoost and 5.0 Coyote V-8. It gets you a Torsen, limited-slip differential, strut tower brace, MagneRide suspension, wider wheel and tire combo at the rear, auxiliary engine oil-cooler, bigger, six-piston, Brembo brakes (390 mm front, 355 mm rear), brake-cooling ducts, as well as optional Recaro seats and active exhaust system.

To get peak performance out of your 2024 Mustang GT, Ford offers the Dark Horse package. In this application, the 5.0-liter V-8 makes 500 horsepower (373 kilowatts) and features pistons and connecting rods, borrowed from the 760-horsepower, 5.2-liter, supercharged, Predator engine that works in the GT500.

Transmission-wise, the Dark Horse gets a unique, Tremec, six-speed manual with a 3D-printed, titanium shift knob while the 10-speed automatic gets, “sport” paddle-shifters, finished in silver accent, which contrasts the dark interior. The Dark Horse Mustangs will stand out with Indigo blue interior accents, and Grabber Blue brake calipers. There’s also a Blue Ember metallic exterior finish exclusive to the trim as well as distinctive Dark Horse logos throughout the exterior. Each Mustang Dark Horse will have a distinctive chassis number.

If you want even more performance out of your ’Stang, the Handling Package gives you better downforce by adding a rear spoiler with an integrated Gurney flap in addition to stiffer springs, beefier sway bars, and Pirelli Trofeo with 19x10.5 inches at the front and 19x11 inches at the rear, instead of the standard P Zero rubber. The cherry on top, should you choose to spend a bit more, comes from the lightweight wheels by Carbon Revolution.

When the S550 generation was introduced in 2014, many thought it was a bit too European. Things didn’t get much better for 2017, but now the Mustang has returned to a more angular design although not as neo-retro as some would wish for. The new LED headlights have been extended and the tri-bar taillights have been redesigned as well, but the overall notion is that of a more angular S550 Mustang.

As before, the EcoBoost and GT models will get distinctive front-end designs, with the GT model getting bigger air intakes. All Mustangs now feature air extractors on the hood, similar to those on the supercharged Mustang GT500. Ford says this is the most aerodynamic Mustang ever made. It features a new front splitter, redesigned rear diffuser, and a new steel oil-pan, which also improves aerodynamics.

In terms of color options, 11 exterior finishes and a plethora of stripe options are available for the 2024 Mustang. Even the brake calipers can be personalized with different colors. There are also different wheel designs and sizes ranging from 17 to 20 inches. A special, Bronze Appearance package will also be offered, which adds Bronze-finished wheels and badging.

While certain parts, like the lower center console, are familiar from the S550, most of the interior now features soft-touch materials. The toggle switches on the center console have been swapped for a more conventional look, arguably, due to a pointless “safety” regulation. The biggest difference is the new dashboard, which no longer features the dual-cowl design.

Instead, you now get a tablet-style 12.3-inch digital instrument cluster and a 13.2-inch infotainment screen similar to what we see in Mercedes and other car manufacturers. Both screens are highly-customizable, but with almost no physical buttons, it means most of the car’s functions have to be operated through the SYNC 4 center screen.

Drift enthusiasts would appreciate another neat feature of the 2024 Mustang - the electronic E-brake, which was specifically designed together with three-time World Drift Series champion, Vougn Gittin Jr. Instead of a lame button, it is operated by a traditional lever. The only difference is that it’s actually electronic and instead of gradually applying brake pressure, it works like an on/off switch.

A rather nostalgic feature is that among the customization options, you can choose your instrument cluster to emulate that of the Foxbody Mustang. Aside from that, you still get a 2+2 layout with somewhat usable rear seats that look almost identical to the S550 model. Overall, the interior quality seems to be an even bigger step up from the outgoing model, with leather stitching, 3D-printed carbon-fiber-imitating accents on the dashboard, and some classic chrome accents.

In the end, the 2024 Ford Mustang may not be "all-new", but the current formula works well enough that we really can’t hold it against Ford. The S650 is the logical evolution of the S550 Mustang and we are still getting a traditional, two+two coupe/convertible without hybridization. More importantly, in times when Dodge went the EV Muscle car route and the Chevy Camaro’s future is uncertain, the 2024 Mustang GT is one of the very few cars that still offer a naturally-aspirated V-8, a manual transmission, and rear-wheel drive, and it will be available from Summer 2023.