Skip to main content

Ford fans have something to celebrate: the Mustang is returning for yet another generation, offering a vociferous 5.0L Coyote V8 engine. While that’s excellent news for pony car aficionados, it comes with a caveat. Specifically, the new V8-powered Mustang GT gets a price bump. So, is the 2024 Ford Mustang GT worth the extra money?

What is the starting price for a 2024 Mustang GT?

A 2024 Ford Mustang GT will start at $41,945 for the fastback coupe. That marks a $3,650 increase over the previous model year and the first time a base GT costs over $40,000.

Moreover, the new GT Premium gets a heftier price tag for 2024. The new 2024 Ford Mustang GT Premium Fastback starts at $46,015, a $2,650 increase from 2023. In addition to the GT and GT Premium, the latest pony car is available as a convertible. The GT Premium Convertible starts at $51,515, making it $2,650 more than the drop-top 2023 GT Premium. 

For the first time, the V8-powered convertible starts at over $50,000. However, the eight-cylinder trims aren’t alone; the EcoBoost and EcoBoost Premium also get a price bump. The new EcoBoost starts at $30,920 for the base model and $36,445 for the Premium trim. Like the GT, the EcoBoost crosses another five-figure benchmark: the $30,000 threshold. 

What makes the 2024 Ford Mustang GT worth it?

While the 2024 Ford Mustang GT gets a significant price increase, it’s worth it. Specifically, the GT is one of the last American V8-powered coupes on the market. Dodge is discontinuing one of the GT’s principal competitors: the Dodge Challenger. 

A set of new 2024 Ford Mustangs, including a GT, blast through a harbor showing off their gray-blue and red paint schemes.
2024 Ford Mustangs | Ford

Moreover, with 480 horsepower, the new seventh-gen Mustang GT is the most powerful GT ever. Even more impressive is the figure when potential owners opt for the performance exhaust. The Blue Oval says the throatier Active Valve Exhaust System adds an additional six ponies for a total of 486. That makes the GT even more potent than the track-oriented Mach 1 from the S550 generation. 

Better yet, the GT keeps a six-speed manual transmission option, which the EcoBoost loses for 2024. However, the transmission is Getrag’s MT82, a unit that has some issues, including premature failure. 

Is the 2024 Ford Mustang GT the top of the line?

While the 2024 Ford Mustang GT is the most powerful GT ever, it’s not the top-of-the-line trim in the vehicle’s lineup. The new Dark Horse takes the top spot with a high-performance variant of the Coyote V8. The Dark Horse produces 500 horsepower and packs a track-ready Tremec six-speed manual transmission with rev-matching. 

How much will the 2024 Dark Horse Mustang cost?

The new 2024 Dark Horse Mustang starts at around $57,970, or about $1,400 more than a 2023 Mach 1 from the S550 generation. Still, even with an ask of nearly $60,000, the Dark Horse is an all-new performance-oriented Mustang.

Related

2024 Mustang Transmission Options Have an Issue

Best in Sedans & Coupes
Avatar photo
Staff Writer

Erik Sherman

Erik Sherman joined the MotorBiscuit team as an Autos Writer in 2022. An admitted petrolhead and an avid motorcyclist, Erik has owned everything from classic cars to motorcycles to modern driver’s cars. Erik also has extensive experience with military and emergency vehicles, ranging from ambulances and fire engines to MRAPs and M-ATVs. Erik is an eager car and motorcycle reviewer with experience covering everything from sports cars to pontoon boats and jet skis.

Erik holds a Bachelor’s Degree in International Relations (IRG) from the University of Texas at Austin and has studied Chinese, Energy, and European Politics at the University of Glasgow in Scotland. Erik’s background is unorthodox; he is a United States Marine Corps (USMC) combat veteran, water survival practitioner, and a former firefighter/EMT. Additionally, Erik is a regular volunteer and former instructor with the American Red Cross (ARC).