It’s a Best Buy because:

Mustang delivers appealing “sporty car” attributes in a variety of flavors from mild to wild.

But…

Rear-seat room is tight, and fuel economy isn’t great with any model.

Worth noting:

Top-line Shelby GT500 coupe and convertible are among the quickest cars available.

What Is It?

Mustang is offered as a coupe and convertible with rear-wheel drive. The base engine is a 305-horsepower 3.7-liter V6. Also offered is a 5.0-liter V8 with 420 horsepower, while the hyper-performance Shelby GT500 has a 662-horsepower supercharged 5.8-liter V8. All engines can be mated to either manual or automatic transmission, except the Shelby GT500’s, which comes only with manual.

What’s New?

There’s an all-new Mustang expected as a 2015 model, so the ‘14s are mostly unchanged, save for new instrument-cluster graphics and an appearance package. The big news for the 2014 Mustang isn’t what’s new; it’s that the enthusiast-themed Boss 302 model has been discontinued.

Fuel Economy

A V6 coupe with manual transmission averaged 19.6 mpg in mixed city/highway driving. A manual GT averaged a surprisingly good 22 mpg in mostly highway driving. V6 Mustangs use regular-grade gas. Ford recommends premium for the GT’s 5.0-liter V8 and requires it for the Shelby GT500.

Value in Class

Any Mustang offers an attractive blend of performance, swagger, and value. The V6 delivers solid performance while V8s offer invigorating muscle, and all are more day-to-day livable than most any rival. Due to body flex, however, convertibles are more for fun-in-the-sun cruising than serious performance driving.

BASE PRICE RANGE $22,995 – $60,445
BODY STYLES 2-Door Coupe, 2-Door Convertible
AVAILABLE ENGINES 305-HP, 3.7-Liter V6; 420-HP, 5.0-Liter V8; 662-HP, 5.8-Liter Supercharged V8
DRIVE WHEELS Rear
BUILT IN USA
EPA FUEL-ECONOMY RANGE 15-31 MPG

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