Earlier this year, we reported on rumors that the next-gen S650 Ford Mustang would launch for the 2023 model year after entering production late in 2022. Now, it appears that those rumors were in fact true. According to Automotive News, Ford suppliers have been informed of this timeline. But they’ve also reportedly been told that the next-gen Ford Mustang will have an eight year life cycle, up from the previously planned six years.
That eight year target would match the current S550 Ford Mustang, which launched in 2014 as a 2015 model. It also saves FoMoCo money in engineering and development costs, which is critical for a lower-volume vehicle like the Mustang.
According to the report, Ford expects to produce just under 100,000 next-gen Mustangs per year – 77,000 coupes, and 20,000 convertibles. Ford Mustang sales have dipped 12 percent year-to-date to 33,786 units, but the current S550 Mustang has remained the best-selling car in its segment since its introduction. Meanwhile, its main competitor, the Chevrolet Camaro, might wind up being discontinued, according to a recent rumor.
The seventh-generation 2023 Ford Mustang is expected to receive a complete overhaul consisting of a thorough redesign and re-engineering. It will ride on the Ford CD6 platform currently utilized by the 2020 Ford Explorer and 2020 Lincoln Aviator. The platform features a longitudinal powertrain configuration with standard rear-wheel-drive, but the architecture is also capable of all-wheel-drive and electrification.
In terms of powertrains, the 2023 Mustang is expected to be powered by at least two Ford EcoBoost engines, potentially including the 2.3L EcoBoost I4 and 3.5L EcoBoost V6, as well as FoMoCo’s 5.0L Coyote V8, and 5.0L Coyote V8 with a hybrid-electric system and all-wheel-drive. Ford’s ten-speed automatic transmission and a manual transmission are expected to be offered as well.
Meanwhile, the next-gen Mustang will continue to be produced at the Ford Flat Rock Assembly Plant in Michigan.