While Ford said the Mustang is the bestselling sports car globally over the past 10 years combined, U.S. sales have fallen each of the past seven years, according to the Automotive News Research & Data Center. The Challenger, which sits on the segment’s oldest platform, outsold the Mustang in 2021 and 2022.
U.S. sales of Mustang are off 2.9 percent through June to 25,502.
Still, Brauer said the vehicle is poised for a sales bump, although rising prices could affect that growth.
“Everything is really on its side to be successful in terms of the competition and plenty of people who still want a traditional car,” Brauer said. “But the biggest challenge is inflation and cost of production driving the price out of range for a lot of buyers. The car should still appeal to mainstream consumers and if it gets too expensive, it won’t.”
Pricing on the 2024 model starts at $32,515, up a few thousand dollars over the outgoing entry-level model, while the high-end Dark Horse variant starts at $59,565. Both prices include shipping.
Owens said the price reflects additional content customers are getting, even on base trims.
“We’re really confident in what’s in that EcoBoost,” he said. “It’s a stout performance car.”
Aside from appealing to younger buyers, Owens said Ford isn’t altering its strategy with the Mustang as its rivals bow out and doesn’t necessarily expect any new competition in the immediate future.
“We’ve been there without that competition before,” Owens said. “We’re there because this is a primary piece of Americana from a sports car segment we think the audiences will desire.”
